Next year the B2Gold mining company plans to produce around 118 thousand ounces of gold in the Tope and San Juan project, in the municipality of La Libertad.
Authorities at the mining company explained that in 2017 production was lower because they had not obtained all of the permits, but now, with the approval of the environmental impact studies, B2Gold plans to increase activities and consequently the extraction of gold.
The canadian company B2Gold has announced that it will be carrying out studies to determine the feasibility of mining explotation in the municipality of Rancho Grande in Matagalpa.
Among the analysis to be carried out by the company in the area of Rancho Grande are studies on the "soil, water, air, flora, fauna and culture of the community" according to a report by Elnuevodiario.com.ni.
The Canadian company B2Gold will be extending exploration activities in the La Libertad gold mine for seven years and operating six other projects in other parts of the country.
The process of conversion of the La Libertad gold mine, initiated by the Canadian B2Gold and which currently extracts between 140,000 and 150,000 troy ounces of gold a year, will continue for seven years, according to statements made by company representatives.
Nicaraguan mining companies forecast more growth for 2014 in line with the investments made by the sector.
According to statistics from the Center for Exports (CETREX) up to November this year sales of raw gold rose by 10.4% going from 12,001 kg in 2012 to 13,251 in 2013. An increase in value of 2.9 % with revenues of $395.1 million was recorded, while in the same period of 2012 it was $389.9 million .
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.
According to Venturo, recently there has been a significant drop in international prices, however, they are waiting to see what the trend will be over the next few months. "When we started operations in the country in April 2009 the price of gold was $850, since then there was an upward trend reaching its peak in 2011. In 2009 we started with major investments such as the acquisition of properties and the reconstruction of Mina La Libertad, which helped double production from forty thousand ounces a year to its current capacity of 130 thousand ounces. That was an investment of $74 million between 2009 and 2010. That investment has allowed us to maximize our revenue this year and leaves us ready and in a robust position to face a complex future. "
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.
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.