Nicaragua: Precious Metal Exports Fall

Low gold prices and weaker external demand account for 14% of the annual fall in the export of metal products for March.

Tuesday, May 26, 2015

In the first quarter of 20,700 ounces of gold were exported, down from the 73,800 ounces sold in the same period in the previous year. The main reason behind this decrease is the fall is the international price of gold, which has remained low over the past year and part of this year.

In addition, gold production also fell in Nicaraguan mines, reporting a 10% drop in the first quarter compared to the same period in 2014.

Sergio Rios, president of the Mining Chamber of Nicaragua (Caminic), acknowledged that "... 'production is currently slightly below the first quarter of 2014', but expects the rest of the year to recover. 'This will be possible with the entry into operation of two new gold processing plants and the predicted increase in production by large businesses.'" reports that "... Caminic is maintaining its outlook on gold production of an increase between five and ten percent in 2015, which will help the incursion of new companies by the end of the year - though he did not mention their names- as well as investments in exploration by operating companies. "

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