Colombian Mining Company Buys Gold Mine in Nicaragua

Mineros SA has bought 90% of the shares of the Bonanza mine from the company Hemco, for an amount that has not been disclosed.

Wednesday, March 20, 2013

From a press release from Hemco in Nicaragua:

Mineros, S.A, the Colombian private business group with over 38 years experience in the mining sector has decided to invest in Nicaragua acquiring a 90% stake in Hemco Nicaragua S.A in Bonanza, in the North Atlantic Autonomous Region (RAAN).

"We decided to invest in Nicaragua as it is a very attractive country in all aspects, it offers security, legal and macroeconomic stability, excellent investment climate and a government focused on providing investors with the right conditions to successfully operate and grow in the country . Moreover, we have found in Hemco the ideal local partner for this first step in Nicaragua "said Beatriz Uribe, President of Mineros S.A.



More on this topic

Nicaragua: Gold Mine Suspends Operations

May 2015

The Colombian company HEMCO has suspended its activities due to violence shown by a group of artisanal miners who blocked the exit of materials and destroyed company property.

Aiming to ensure the safety of its employees and raw materials which are highly toxic, the Colombian mining company has suspended operations until the violent environment that they faced, which is affecting business and the economic climate of the municipality, has been stablalized.

Gold Production Up 10% in Nicaragua

December 2013

Nicaraguan mining companies forecast more growth for 2014 in line with the investments made by the sector.

According to statistics from the Center for Exports (CETREX) up to November this year sales of raw gold rose by 10.4% going from 12,001 kg in 2012 to 13,251 in 2013. An increase in value of 2.9 % with revenues of $395.1 million was recorded, while in the same period of 2012 it was $389.9 million .

Gold Mining Without Mercury in Nicaragua

September 2013

In the municipality of Bonanza the traditional method of using cyanide and mercury will be abandoned and instead the gravimetric and flotation method will be implemented.

"Alvaro Peralta, HEMCO's Manager, explained that in coordination with the municipal government and the miners, they are implementing new industrial technologies, and for this reason it has been proposed that the municipality of Triángulo Minero be declared "the first mercury-free mining town in Nicaragua" according to an article in Elnuevodiario.com.ni.

Golden Phoenix Buys 60% of the Santa Rosa Mine in Panama

September 2011

The acquisition agreement includes an option to acquire an additional 20% in the future.

The mining company Golden Phoenix Minerals Inc. has announced the signing of a definitive purchase agreement to acquire a 60% stake in the Santa Rosa Gold Mine, located in Panama from the Panamanian corporation Silver Global.

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