The Profits of Guatemalan Mining Companies

According to a recent study, companies that carry out mining activities in the country, operate with a profit margin of 22% before paying taxes.

Wednesday, April 11, 2018

The report prepared by Central American Business Intelligence (CABI), details that companies in the mining industry operating in Guatemala can achieve extraction costs of up to 55%. 

See "Metalliferous minerals market in Central America"

An article on Dca.gob.gt explains that "... The report, which focused on analyzing the economic and fiscal impact of Goldcorp and Tahoe Resources, showed that the companies invested US $2 billion in 8 years and have paid more than Q3.5 billion for royalties and taxes to the State."

Regarding the legal framework that regulates the activity of the sector and its royalties, the article notes that " ... Luis Contreras, of the Energy and Mines Commission of the Congress, said that reforms to the Mining Law are under discussion, in order to increase the payment of royalties and regulate the closure of mining companies."

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More on this topic

Guatemala: Marlin Gold Mine May Be Sold

August 2016

The sale of the mine is part of a marketing plan for some of the assets owned by the Canadian concessionaire Goldcorp.

In addition to the operations of the Marlin mine, Goldcorp has put on sale its gold and silver mine Los Filos in Mexico, and also is studying alternatives to offload the Alumbrera mine in Argentina.

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.

Analysis of the mining sector in Guatemala

March 2014

A study reveals the state's inability to meet the demands for services and road infrastructure that arise when a mining project is set up.  

"Mining in Guatemala's economy in 2011 accounted for 2.8% of the production of goods and services nationwide .... By 2012, the total tax contribution of the mining sector was $62,496,766 equivalent to 5.7% of production of mining and quarrying," indicated the Central American Institute for Fiscal Studies (ICEFI).

Guatemala: Mining Royalties by Type of Material

April 2013

Royalties on mineral holdings in Guatemala will be imposed on three levels related to the base value of the extracted material.

According to Mario Marroquin, president of the Union of Mining and CEO of the company Montana Exploradora (main extractor of gold and silver in Guatemala), precious metals are those with the highest and there are other lower rates for base metals and non-metallic minerals.

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