Tikal Minerals, G4G and Iron Sands have confirmed that preliminary studies indicate that the exploitation of iron sands is feasible.
Tikal Minerals, which has three exploration licenses, commented that it may be possible to obtain an annual average of 10 million tons of iron, located 10 meters below ground. It is estimated that up to 12% of world iron deposits may be located on Guatemalan soil.
Canadian mining corporation Radius calculated how much gold it could extract from its “Tambor” project, in San Pedro Ayampuc.
According to Lorena Álvarez, the figure was included in an environmental impact study presented by “Exploraciones Mineras de Guatemala” (Exmingua), a subsidiary of Radius Exploration Ltd.
“Radius plans to invest $33.7 million … Construction would take between 9 and 12 months, the mine would operate for 5 years, and between 12 and 18 months would be required to close the project”, reported Elperiodico.com.gt.