Nicaragua Wants More Mining Investment

The arrival of foreign investment to the west of the country is being promoted, in places where there are already companies interested in developing the potential for metal mining in the area.

Friday, November 18, 2016

The Mining Chamber of Nicaragua projects growth of 5% in exports this year compared to 2015, driven by a rebound in gold prices internationally and investments in the sector. Sergio Rios, director of the union, also attributed the positive growth projection to the approximate 5% achieved in production.

See "Nicaragua: Artisanal Mining Plant for $6.5 million"

The presidential delegate for investment, Alvaro Baltodano, told that among the investments planned for the sector is a project located in the town of Villanueva, Chinandega, estimated at $7 million, and another in Santa Rosa del Penon, Leon, "... whose investment could amount to $120 million."

Javier Chamorro, executive director of the Agency for Investment Promotion (ProNicaragua), "... argues that this year has been "very positive" for the sector." Important projects have been developed such as the Los Angeles plant in Chontales, which, under a new format, attends to the needs of small artisanal miners whose income depends on the sales they make to large companies."

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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 Chamber of Nicaragua explained that the plant will operate under the "Mining for All" program, agreed between the business sector and the Nicaraguan government, in order to cater exclusively to artisanal workers.