From these revenues the mine gave the State of Guatemala 4.25% in royalties.
The Marlin mine in San Marcos generated these revenues during the first half of 2013. "The cost of gold mining in San Marcos is $182 on average and is still the lowest of the 11 companies of which Goldcorp owns or has interests in in the continent," noted an article in Prensalibre.com .
The decline in the price of precious metals worldwide has forced the company to temporarily suspend operations at Cerro Blanco.
"The Cerro Blanco mine in Asuncion Mita, Jutiapa, will enter into a state of maintenance and care, ie only keeping areas active that are necessary for the development of the mine and its infrastructure, but it will not perform exploitation activities as was planned. "
Mining businesses are concerned about communities who are resistance to mining activities, delays in the approval of permits and amendments to the Mining Act.
Next on the list of concerns for the sector, is the evolution of the global crisis, which investments in the extractive industry are dependent on.
Elperiodico.com.gt reports that clashes with opposition social groups "is a matter of the state and could find a possible solution next year, said Fernando Castellanos, director of mining at the Ministry of Energy and Mines (MEM) . "
The agreement signed by 22 companies in the extractive industry will mean an increase in annual revenues from mining royalties of about $64 million.
Having previously paid 1% in royalties, gold and silver mining companies will pay the Guatemalan state a rate of 4%, said the President Otto Perez Molina.
"In the case of base metals, nickel and zinc, among others, the rate rises to 3 percent, while for non-metallic minerals, construction materials, the level will remain at 1 percent, as established by the law", informed PrensaLibre.com.
Company directors say that they will continue to expand with new "Cerro Blanco" project.
Almost two months since the Inter-American Commission on Human Rights (IAHCR) recommended to the Guatemalan government that Goldcorp's operations at the Marlin mine be suspended, the administration has ordered a review to determine whether or not a suspension is appropriate. Meanwhile, Goldcorp continues its operations in the country.