Mining: Progress on $120 Million Project

Inversiones Los Pinares, in charge of building an iron oxide mine in Tocoa, Honduras, plans to begin exporting to the U.S. market in late 2020 or early 2021.

Monday, October 14, 2019

Representatives of the company informed that currently the construction works of the plant are carried out where the iron oxide that will be extracted from the mine will be processed and also warehouses, administrative offices and other enclosures are built.

You may be interested in "Metallic Mining: Exports up to September 2018

Martín Chicas, vice president of the National Association of Industrialists (Andi), told that "... the country has an enormous mining potential yet to be explored. We are sure that there are many areas of the country that have agricultural potential, natural water resources to generate energy and there are many regions that have great potential with mining, both precious and non-precious metals, including even rocky material that is already being exported as an aggregate."

Chicas added that "... We have always said, we believe that there is enough mineral resource in our country to be able to pay the foreign debt and to be able to accompany the country in an excellent system of education and health."

At the end of September some modifications to the rules of the mining sector in Honduras were approved, since changes were made to the law, such as the one that now, prior to the request for exploitation, the mining authority will require the municipal corporation to carry out a citizen consultation in a period of no more than 90 days, and the decision adopted will be binding for the granting of the concession.

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