The first ship from the Petroleum Geo-Services (PGS) company will arrive at Puerto Cortes to carry out oil exploration.
Latribuna.hn reports: "The PGS representative in Honduras, Marco Flores, announced that they will continue with exploration in order to find out which parts of Honduras have more petroleum.
Authorities from the Secretariat of Natural Resources and the Environment have decided to sign a contract with PGS to carry out exploration in the Atlantic zone.
The Metal Mining Association rejected declarations by the head of t he Executive Income Department about earnings by the sector that exceeded $17 million in 2007.
The website of the La Tribuna reported that "The president of Anamimh, Santos Gabino Carvajal, said that the report by Sarmiento on the alleged earnings by various sectors of the economy in 2007, given during a press conference at the Presidential House, was 'malicious and speculative.' According to Carbajal, the director of the DEI is trying to confuse public opinion by not highlighting the difference between metallic and no-metallic mining and by not pointing out that the companies also have costs of operations.
Petroleum Geo Services will carry out studies within 10 kilometers with the territorial waters of Honduras, and will have licenses to explore for crude.
PGS will invest in the study which will cost $23 million, and this would be recovered later by selling the studies to any of the firms that have shown interest in carrying out explorations.
Development Manager at PGS, George Buzan, explained that the analysis will start sometime between February and March and will last ten years.
Tradition says that in moment of panic gold is the refuge, but this time gold has not been a good recommendation.
These are the questions being asked to antiamericans. Why, in the middle of the worst financial crisis since the great depression, the collapse of the banking system and the strongest recession experienced in our lives, is the dollar getting stronger and is giving a hard and strong lesson to the the traditional gold?
The ALBA Energy, Gas and Petroleum Gran-national Company will carry out the corresponding studies in the next few days.
"The ALBA Energy, Gas and Petroleum Gran-national Company will carry out the corresponding studies in the next few days, and, under the supervision of the Honduran State, will be able to carry out its production and commercialization plan" according to the document published by the local paper, Tiempo.
With gold prices skyrocketing, the Mayans of Guatemala find themselves caught up in a new rush for the precious metal.
Mario Tema sits across from me, a Mayan with a mission.
We are in the town of Sipacapa in the Western Highlands of Guatemala, washing down a breakfast of tamale and beans with a cup of freshly brewed coffee.
As he tells me of the town's fight against a huge open pit gold mine, that famous picture of Che Guevara gazes at us from the wall. Here in Sipacapa, Mario Tema is an anti-mining icon.
Honduran legislators will today renew debate on a new mining law that aims to tax 44 percent of companies' revenues, said Arnoldo Avilés, chairman of the Congressional Mining Commission.
"We've been reaching a consensus over the new law during the last year and a half, and by now all its major parameters are in place," Avilés said.