Guatemala and Honduras are among the worst countries in the world in which to invest in the mining industry.
The Policy Potential Index (PPI) is a composite index, which measures how attractive countries policies are for developing mining projects. It is published by the Fraser Institute, whose vision is a free and prosperous world where individuals benefit more when they have more choice, when markets are competitive, and when there is greater personal responsibility. Its mission is to measure, study and communicate the impact of competitive markets and government interventions on people’s welfare.
Government officials from both countries will sign a cooperation agreement on mining.
Honduras and Chile are to sign a technical cooperation agreement on mining, said the Deputy Minister of Mines of Chile Paul Wagman in an interview with La Tribuna.
Deputy Wagner referred to the issue of a technical cooperation saying, "... what we have been asked to do by the ministry of the Presidency and the secretary of environment and natural resources is to support them in the legislative field, consequently our technical teams will be able go at any time or Honduran technical teams will be able to come to Chile to share our experiences. "
The committees of the National Congress of Honduras have finished writing a report on the new Mining Law.
During the process of preparing the document, the committee that worked on it met with environmental groups, the mining sector and the authorities of the Directorate for the Promotion of Mining (Defomin).
"Aldo Santos, head of Defomin, was confident that the new law will be passed in the first two months of this year and indicated that, despite the lack of legislation, mining activity in the country generated $ 288 million in exports in 2010", reported Elheraldo.hn.
With gold as a prime example, the recommendation to protect purchasing power is to diversify by acquiring natural resource assets, particularly productive land.
Although the European crisis has shown that despite the enormity of the U.S’s public debt, bonds that back it still have the confidence of many investors, the dollar as a reserve asset raises many doubts.
Tuthill is looking for distributors in Central America and the Caribbean for its highly profitable brands Fill Rite, Sotera and Precision Meters.
Tuthill Transfer Systems, North America's leading manufacturer of pumps and meters for the dispatch and transfer of fuels, is looking for distributors in Central America and the Caribbean to represent and market their brands Fill Rite, Sotera and Precision Meters, which offer an excellent profit margin .
From 14 to 16 November, the fifth Central American Energy Fair will take place, with the theme "challenges and opportunities for boosting the region’s energy potential."
The event, which anticipates the participation of 80 to 100 companies, brings together businessmen and investors from the energy and oil sectors and, for the first time this year, the mining sector.
During 2011 the price of gold has continued to rise, and so far this year has recorded growth of 16%, which has encouraged mergers and acquisitions in this mining sector.
In the eleventh year of rising prices, gold reached the record value of $1,923.70 an ounce on September 6.
"BlackRock Inc., which manages natural resource funds for $35.750 million, estimated there could be more mergers and acquisitions in the gold mining sector after the price of gold rose to unprecedented levels", reported Bloomberg News.
The Peruvian Congress has passed a law which will raise the taxes on mining profits by six times its current value, equating to about $1,100 million annually.
The reform, driven by nationalist president Ollanta Humala, aims to reduce the high rate of poverty in the country which is rich in natural resources.
An Article in Reuters reports, "Peru's mining sector, the second largest producer of copper and silver, is vital to the local economy as it contributes to nearly 60 percent of export earnings."
In the first six months of the year exports totalled $131 million, which is $ 32.2 million more than in the same period in 2010.
The surge in exports is explained mainly by increased sales of non-ferrous metals such as gold and silver.
A report by the Central Bank of Honduras shows that foreign sales of gold increased in value by 31.9% making a total of $54.1 million, driven by rising international market prices (26.6% ).
In the first eight months of the year, 130 mining companies have requested permission for mining concessions.
The applications submitted to the Directorate of Mining Promotion, Defomin, have not yet been processed pending the passing of a new Mining Law which is under discussion in Congress.
Regarding the subject, the representative Defomin Saul Sinclair, told Laprensa.hn told that the new law "...
The results of seismic surveys by the consultancy firm PGS in the territorial sea of Honduras on the Caribbean, are being bought by oil companies.
PGS completed the acquisition of approximately 6180 kilometers of 2D seismic multiclient data in April 2009. The seismic data together with gravity and magnetic data acquired at the same time, are now available for licensing.
In the face of mounting interest to attract investments, congress is revisiting the debate on the new Mining Act.
The law, which previously stalled in congress for lack of reconciliation of interests between business and environmentalists, contains among the most important issues, the elimination of all tax shields for mining companies.
Saul Sinclair, Executive Director of the Mining Development, spoke about the new law, "...
The Ministry of Natural Resources issued a decree that would suspending exploration permits and exploitation of hydrocarbons.
The measure would apply while the new law is passed, which regulates the exploration and exploitation of hydrocarbons.
The initiative by the Secretary of Natural Resources and Environment (SERNA) justified the decision on the far too small tax collected by the State of Honduras, figure which is far below international standards, reported Proceso.hn.