Nicaraguan Gold Amid Falling Prices

While the outlook is expected to improve at the international level, the mining industry in Nicaragua has announced that it is prepared to withstand the collapse of gold prices.

Tuesday, April 30, 2013

According to Pablo Venturo, B2Gold mining manager, the investments of about $400 million which have been implemented over the past four years has allowed them to be ready today for the collapse of gold prices in the international market.

"The investments we have made were because there is confidence in the legal framework governing our business and because they have been designed to improve productivity and streamline operations. We are in a solid position and strong enough to face any situation beyond our desire, as is the international price of gold. Our operations are sufficiently robust to withstand this situation," he said.



More on this topic

Nicaragua: Mining Companies Increase Investment

January 2015

The concessionaire B2Gold expects to invest $44 million this year in the La Libertad, Santo Domingo and El Limón mines, while HEMCO SA plans to spend $14 million on the operation of the Bonanza mine.

During the period 2013-2014 B2Gold extracted 197,808 ounces from El Limon and La Libertad mines, while HEMCO achieved a total production of 113,770 ounces.

Outlook for Gold in Nicaragua

May 2013

Falling gold prices in the international market are worrying the mining sector, but are not a reason to stop investing in the country.

In an interview in Laprensa.com.ni by Lucia Navas with Pablo Venturo, B2Gold's country manager, the official explains how the company's operations are in Nicaragua and their expectations for the future.

More Investments in Mining in Nicaragua

September 2011

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

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).

Gold Fever in Nicaragua

August 2011

The growth of the Nicaraguan economy is being led by the mining sector, with gold being the standard bearer.

The Canadian mining corporation B2Gold, owner of the concessions in Nicaragua for the Mines El Limón (Leon) and La Libertad (Chontales), has opened offices in the municipality of Santo Domingo, Chontales, an area for which they have an exploration concession "with good potential to become a new mine. "

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Hemco S.A.

Organization that operates in Nicaragua.
Phone: (505) 2266-1925

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