Guatemala: Mining Exports Down 20%

The decline in production and lower international prices explain the 20% drop in sales abroad in the first half of the year compared to the same period in 2015.

Monday, August 8, 2016

The results from the first half of the year come at a time when the suspension of several mining licenses has started to cause uncertainty among companies and concessionaires in the sector. See: "Another Two Mines Suspended in Guatemala" and "Mining Moratorium Proposed".

Figures from the Bank of Guatemala show that between January and June 2016 the country sold abroad $648 million, 20% less than the $809 million exported in 2015.

Alfredo Galvez, general manager of Montana Exploradora at GoldCrop told Elperiodico.com.gt told that "... international prices have fallen as well as production. In the case of the Marlin mine, Galvez said production levels have fallen because the source of the reservoir being exploited has a lower gold content. "

In the view of Mario Orellana, president of the Union of Extractive Industries (Gremiext), "... the drop in the price of nickel also played a part. 'It fell by more than 30% but started to recover in the second half of the year'. Orellana mentioned other factors such as the temporary suspension of the project Niquegua Montufar II, owned by Compañía Guatemalteca de Níquel and the closure of the project "Progreso VII Derivada" in La Puya. "

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Guatemala: Less Exports to Europe

February 2018

In 2017 the value of sales to Germany and Belgium fell by 6% and 29% respectively, which is explained in part by the suspension of operations at El Escobal mine.

According to figures from Banco de Guatemala, between 2016 and 2017 exports from Guatemala to Germany fell from $148 million to $139 million, and to Belgium they dropped from $128 million to $90 million. The decrease in sales to Belgium is explained by the decrease in the export of lead, as it went down from $70 million in 2016 to $17 million in 2017.

Mining Loses Prominence in Guatemala

August 2017

The contribution of mining activities to GDP has reduced in recent years, and recent cases of suspension of operating permits are not helping to improve the sector's image.

In 2012 the contribution of mining activities represented 2.8% of the Gross Domestic Product (GDP), but this proportion has been decreasing in recent years, falling to 1.1% of GDP in 2015. On top of this are the recent cases of suspension of exploration permits, which have generated uncertainty among the sector's entrepreneurs.  

Guatemala: Oil Production Down 10%

March 2017

During 2016 the ten active oil fields produced a daily average of 8,976 barrels, below the 2015 average of 10,000 barrels per day.

Last year total production was 3,285,442 barrels, 10% less than the 3,664,279 barrels produced in 2015.

"... According to the expert Arturo Letona, for over two years no investments in developing new fields have been observed and in the short term it is not expected that there will be a context of rising oil prices on the international market. Letona said that the message for investors with the decisions taken by the Constitutional Court (CC) is one of uncertainty."

Guatemala Plans to Raise Mining Royalties to 5%

April 2014

The Guild of Extractive Industries would accept the increased royalties as agreed at the start of the Pérez Molina administration.

An article in Prensalibre.com reports that Mario Orellana, president of the Union of Extractive Industries, said "... The initiative proposed by the Ministry of Energy and Mines (MEM) is embodied in the agreement that we voluntarily accepted at the start of this government.

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