Guatemala Seeks Mining Moratorium

The Guatemalan government intends to impose a two year moratorium on the mining industry, in order to study a new law for the sector.

Wednesday, July 10, 2013

From a press release by the Guatemalan Government:

President Otto Perez Molina announced that his government has taken the "transcendent" decision to propose a moratorium on the mining industry, which will lead to the bill that will be presented to Congress on Wednesday.

The president, along with the Minister of Energy and Mines, Erick Archila, and the head of the National Dialogue System, Miguel Ángel Balcárcel, addressed the issue of the conflict generated in the mining sector in the sixth edition of the "De Frente con el Presidente" (Face to Face with the President) which airs on Tuesday nights on broadcast television channels.

He stressed that the purpose is that Members approve a two-year moratorium, a time period in which a study will be made of the authorization of a new law for the mining industry and a national dialogue conducted between the government, communities and key sectors of the country so that decisions can be made on the actions to be taken regarding metal mining.



More on this topic

Businessmen Criticize Mining Moratorium

July 2013

The industrial and commercial sector of Guatemala believes the measure sends a mixed message and is unfriendly to investment.

According to the president of the Union of Extractive Industries, Mario Marroquin, "it sends a mixed message, because a few days ago the Investment Summit 2013 was held, which presented Guatemala as having potential for investment in many sectors, including mining, and now they are saying that licenses will not be granted, what then happens to those interested in the country? ".

Modernization of the Mining Law Urged

August 2012

"The state’s challenge is to modernize the mining industry sector ", said Eric Clay, Minister of Energy and Mines in Guatemala.

Diálogo Libre interviewed the Minister of Energy and Mines regarding the reforms to the current mining law, and the interview was published by Prensalibre.com.

Guatemala Will Not Participate in Existing Mining

July 2012

The mere announcement of the draft constitutional reform in Guatemala so that the State can participate as a partner in mining companies has brought down the shareholder value of Tahoe Resources by 22%.

An article in Elperiodico.com.gt reveals the uncertainty and the damage amonst investors and businesses caused by the announcement of reforms to the Constitution that would include authorization for the State to participate by holding up to 40% of the shares belonging to companies engaged in metal extraction.

Guatemala Negotiates Mining Royalties

January 2012

While waiting for the new mining law, the future Minister of Energy and Mines is negotiating a increase in payments to the State, which currently stand at 1%.

Erick Archila, the newly appointed Minister of Energy and Mines of the government of President-elect, Otto Perez Molina, who will take office on January 14, said that they are holding meetings with various sectors, including the Extractive Industries' Guild, with whom they will negotiate the royalties.

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