Mining Investors in Honduras Wait for Election

Investors from China, England, Peru, Brazil, Canada and the USA are waiting for the outcome of the general election before risking investing in mining projects.

Wednesday, September 11, 2013 reports: "The long wait for the country to have a mining law that is in line with the current situation has had an impact on the arrival of new investments, all of which are dependent upon the results of the November general election to define their situation ".

This was confirmed by Santo Gabino Carvajal, an official at the National Association of Metal Mining in Honduras (Anamimh). "We are talking about investments of billions of dollars, depending on where the investment is made and the type of metal", he said.

Carvajal had previously said investors were waiting for the adoption of the rules and regulations to be established before investing in the country. The law was passed in January and published in April in La Gaceta.

More on this topic

Honduras: Investment in Mining Industry Growing

January 2014

The growth of the metal mining sector and the framework provided by a new mining law have generated interest from foreign companies.  

Up until October 2013, the share of mineral products in exports of general merchandise was $232.7 million, equivalent to 7%. This, and the adoption of a new mining law last year, has attracted interest from foreign investors who have set their eyes on Honduras.

Honduras’ Mining Potential

February 2013

The approval of the Mining Act has peaked the interest of investors interested in the exploration and exploitation of minerals, which could contribute up to $3.5 billion. reports that "Santos Gabino Carvajal, president of the National Association of Metal Mining in Honduras (Anamimh), said that in the last seven years Honduras has not received a single dollar in mining investment, despite its great potential, and that all investments planned in the country were diverted to Nicaragua and Colombia. "

Demands Over Lack of Mining Law

June 2012

In Honduras there are 151 operating permit applications for mining projects involving huge investments that are waiting to be processed.

Businessmen say that "The lack of a law regulating the mining sector is the main obstacle to the 151 stalled requests by foreign and national investors, who have millions available to exploit deposits in Honduras."

Chinese Companies Interested in Metal Mining in Honduras

September 2010

A group of Chinese businesses has stated its interest in extracting non-precious metals such as iron, lead and zinc.

Santos Gabino Carbajal, president of Honduran metal mining association Anamimh, explained that the Chinese delegation has held meetings with Honduran businesses that own mining concessions with a view to negotiating joint ventures.

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