New Central American Mining Union

The new federation is made up of chambers and associations, and suppliers of goods, services and consultancy services in countries in the region and the Dominican Republic.

Monday, November 30, 2015

From a statement issued by the Chamber of Mining in Nicaragua:

Representatives from the organizations that make up the Mining Federation of Central American and the Caribbean (FMCC), elected Mr. Sergio Rios, as president of the Mining Chamber of Nicaragua.

The federation is made up of chambers and associations, and suppliers of goods, services and consulting firms who come from Nicaragua, Guatemala, Honduras, Costa Rica, Panama, El Salvador and the Dominican Republic.

The WFCC was constituted on November 13 at the First International Congress of Mining entitled "The emerging mining industry in Central America: Challenges and Opportunities", held in Panama City under the auspices of the Latin American Mining Organization (Olami).



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Mining activities have grown at an annual average of 9% in the last ten years, mainly due to growing foreign investment, an increase in production and favorable international prices.

A report presented by the Nicaraguan Mining Chamber states that between 2006 and 2016, foreign direct investment totaled $793 million, having an annual average of $79 million. 

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The Assembly is preparing to approve a bill that creates the Nicaraguan Mining Company (Empresa Nicaragüense de Minas), which will be able to participate in exploration and exploitation activities carried out by companies who have received concessions.

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Nicaragua Wants More Mining Investment

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The union of mining companies is promoting the arrival of new foreign investments in order to achieve greater development and formalization of metal mining in the country.

The president of the Mining Chamber of Nicaragua (Caminic), Sergio Rios, presented  to foreign businessmen the characteristics and conditions offered by the country's for mining investments and invited them to invest in the country and take advantage of its geological potential.

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The mining sector in Central America represents great potential for investment and business, however, it has so far contributed only 0.75% to the Gross Domestic Product (GDP), averaged from the six countries in the region, between 2008 and 2012.

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