Honduras Returns to Discussion of the Mining Law

In the face of mounting interest to attract investments, congress is revisiting the debate on the new Mining Act.

Thursday, May 12, 2011

The law, which previously stalled in congress for lack of reconciliation of interests between business and environmentalists, contains among the most important issues, the elimination of all tax shields for mining companies.

Saul Sinclair, Executive Director of the Mining Development, spoke about the new law, "... it seeks adjustments not just related to social aspects but also tax reforms, so that there can be a balance between government, social communities, and municipalities. The goal is more ambitious regulatory framework that is consistent with environmental problems. " from an article in Elheraldo.hn



More on this topic

New Mining Law in Effect In Honduras

April 2013

The regulation allows surveys to determine if there is evidence of mineral deposits anywhere in the country, except in specifically excluded areas.

The General Mining Law, approved in January by the Honduran Congress, became effective upon publication in the official newspaper of the Republic, La Gaceta.

New Mining Law Approved in Honduras

January 2013

Congress has approved a new mining law which eliminates all tax shields for mining companies.

For seven years the country has had an incomplete mining law, as in 2005 the Supreme Court struck down 13 items of this legislation, among which were items relating to the collection of taxes on mining companies.

Honduran Industrialists Push for Mining Law

November 2012

They point to the mining potential as a decisive factor for the country’s development, having the capacity to attract investments of $14 billion.

An article in Tiempo.hn reports that "The National Association of Industrialists (ANDI) is urging the National Congress to approve the new Mining Act in order to attract foreign investment in the order of 280 billion lempiras, about $14 billion.

Huge Interest in Mining Concessions in Honduras

August 2011

In the first eight months of the year, 130 mining companies have requested permission for mining concessions.

The applications submitted to the Directorate of Mining Promotion, Defomin, have not yet been processed pending the passing of a new Mining Law which is under discussion in Congress.

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