Nicaragua: Good Prospects for Mining

This year's projections are for production of 276 thousand troy ounces of gold and 689 thousand silver, and it is expected that $355 million will be generated in export earnings.

Tuesday, June 20, 2017

The mining companies' association predicts that private investment this year will range from $125 million to $140 million. Sergio Ríos, president of the Mining Chamber of Nicaragua (Caminic), "... recently stated that 'gold production in 2016 amounted to 267,000 troy ounces' and that since 2011 the production of precious metal has grown at a annual average rate of 9.3%'."

See: "Exports of Metalliferous Minerals in Central America"

In this context of good prospects for the sector for the remainder of the year and 2018, the Assembly is preparing to approve a bill which creates the Nicaraguan Mining Company, which will be able to participate in exploration and exploitation activities carried out by companies that have received concessions.

The Central Bank's 2017-2018 Production, Consumption and Trade Plan, forecasts the "... production of 275.6 thousand troy ounces of gold (3.1% growth) and 688.9 thousand troy ounces of Silver (1.1% growth). The average gold export price expected is of US $1,250 per troy ounce and for silver of US $11 per troy ounce, with expected revenues of US $344.5 million in gold exports and US $11.0 million in silver."

In the case of non-metallic mining, "... we expect to extract 181 thousand cubic meters of sand (5% growth), 61.6 thousand cubic meters of concrete (5% of 74 growth), 94.2 thousand cubic meters of selected material (5% growth), 46.8 thousand metric tons of gypsum (10.5% lower), and 9.6% million quarry stone units (5% growth)."

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