More Investments in Mining in Nicaragua

Three companies from the U.S. and Canada have acquired concessions rights for exploratory mining, with investments of about $5 million.

Monday, September 19, 2011

The new concessions add to those already existing in the country, in which a total of $12.7 million have been invested between January and May 2011, according to the Ministry of Energy and Mines (MEM).

Karla Guerrero, director of the Mining Chamber of Nicaragua told reporters that of the total investment, about $10 million has been earmarked for exploration and that at the current rate, investment could top 2010 levels of $20.7 million.

"While B2Gold Corp., owner of the El Limón Mine concessions (Leon) and La Libertad Mine (Chontales), has designated $8.75 million dollars in exploration in the Santo Domingo project (Chontales), Hemco Nicaragua SA company, plans to invest about $40 million in new projects. "

More on this topic

The Mining Sector in Nicaragua

August 2014

In the last six years capacity mining production in the country has tripled and it is expected to increase even more with the startup of two new projects.

According to Denis Lanzas Cisneros, vice president of the Chamber of Mines of Nicaragua, one of the main reasons behind the growth of the sector in recent years is the regulatory framework which established the Mining Act, which "...

Gold Mining to Keep Growing

January 2012

Nicaragua's mining industry aims to grow by 15% in 2012, totaling $418.6 million in sales, $54 million more than last year thanks to rising global prices.

The gold mining industry in Nicaragua plans to increase production by 15% and get annual revenues of $418.6 million in 2012, said Karla Guerrero, executive director of the Nicaraguan Chamber of Mines.

Mining Production Increases in Nicaragua

February 2011

In 2010 the production of gold troy ounces increased by 88% and silver by 56%, generating $ 226.67 million in sales.

The Nicaraguan Chamber of Mines (Caminic), argues that with the successful production in 2010 of 156 thousand troy ounces, the country ranks among the top ten producers in Latin America.

Nicaragua Expects to Export $140 Million of Gold

March 2010

The country’s mining industry expects to double its gold exports in 2010, its main destinations being the United States and Canada.

The Central Bank of Nicaragua revealed that in 2009 the country sold 88.000 troy ounces, netting $81 million.

Sergio Ríos, president of Caminic, the Chamber of Mining Companies of Nicaragua, commented that “as long as the U.S.

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