According to Denis Lanzas Cisneros, vice president of the Chamber of Mines of Nicaragua, one of the main reasons behind the growth of the sector in recent years is the regulatory framework which established the Mining Act, which "... 'has created investor confidence in developing technology, and that has allowed us to increase our production capacity, improve our quality to get better returns from the waste materials we get from mining. That led, in 2013, to us becoming the chief exporter (country) with 442.6 million dollars which represented 18.44 percent of Nicaragua's total exports.'"

Regarding the potential exploitation of the country, Lanzas told Laprensa.com.ni that "...We have not yet defined the potential because there are many areas to be further explored. But the three mines in operation (Limon, Santo Domingo, property of B2Gold, and HEMCO in Bonanza) have risen to 300 thousand troy ounces. The potential will increased even more over the next three years with two new mines to be opened. "

Source: laprensa.com.ni

More on this topic

Mining in Honduras: $168 million Exported in 2017

January 2018

Gold, silver, lead and zinc were some of the main materials exported during 2017, and the main buyers were the USA, Germany, Aruba, Austria and Belgium.

The authorities at the Honduran Institute of Geology and Mines (Inhgeomin) presented figures for 2017 and explained that the good performance achieved last year was mainly due to favourable international prices and to the reactivation in economies such as the United States, which led to an increase in demand for metals and minerals, especially for construction.

Mining: Engine of Growth in Nicaragua

October 2017

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. 

Nicaragua Site of International Mining Congress

April 2016

On August 16 and 17 industry representatives from around the globe will be taking part in business conferences and lectures on the role of mineral resources and the impact of the activity on the economy.

The II International Mining Congress is being organized by the Mining Chamber of Nicaragua and will be held on August 16 and 17 in Managua.

Analysis of Mining Activity in Central America

November 2014

Conflicts over environmental protection and excessive bureaucracy in the process of granting concessions are the factors that limit the great mining potential in the region.

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.