Upcoming Concessions for Mineral Exploration in Honduras

At the moment studies are being carried out on more than 160 applications from companies seeking to explore mining areas under the framework of the new legislation passed in 2013.

Wednesday, April 16, 2014

Since the adoption of the new Law on Mining operations in Honduras, the Honduran Institute of Geology has received more than 160 applications for exploration permits from mining companies.

Carlos Padilla, head of the Fiscalisation at the Institute told Laprensa.hn that "the Mining Operations Act now gives us an opportunity to raise funds for the Institute and the State, because in 2012 and prior to then, the law was canceled and we could not make charges or give out penalties, among other things."

"Exploration consists of the firm to which the concession is granted quantifying the site or the reservation of minerals and based on that data, showing a rate of return, i.e. how much mineral there is and what the costs are, and if practicable, continuing on to the process of exploitation. "

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