During the second pre-consultation meeting in Guatemala, the team and the proposed methodology to conduct the Cultural and Spiritual Impact Study of the "Escobal" mining right in the Xinka People was accepted.
As a result of a protective action filed by the environmental organization Calas, the Constitutional Court (CC) ordered in September 2018, to carry out through the Ministry of Energy and Mines (MEM), a community consultation in the area of operations of the mine, in El Escobal, in the municipality of San Rafael Las Flores, department of Santa Rosa.
In the context of the process of the resumption of operations of the San Rafael Mine, the first pre-consultation meeting was held and it was agreed to conduct a study of the spiritual and cultural impact of the mining right on the Xinka indigenous people.
Following a protective action filed by the environmental organization Calas, the Constitutional Court (CC) ordered in September 2018, to carry out through the Ministry of Energy and Mines (MEM), a community consultation in the area of operations of the mine, in El Escobal, in the municipality of San Rafael Las Flores, department of Santa Rosa.
After a community consultation was ordered as a requirement for the resumption of operations of the San Rafael Mine in Guatemala, the authorities invited nine institutions to participate in the first meeting of the pre-consultation roundtable.
Derived from a protective action filed by the environmental organization Calas, the Constitutional Court (CC) ordered in September 2018, to carry out through the Ministry of Energy and Mines (MEM), a community consultation in the area of operations of the mine, in El Escobal, in the municipality of San Rafael Las Flores, department of Santa Rosa.
Canada's Calibre Mining bought from B2Gold Nicaragua, the El Limón and La Libertad gold mines, as well as the Pavon project and other concessions, in a transaction that totaled $100 million.
The El Limón and La Libertad mines have produced more than 1.4 million ounces of gold since 2010, and their combined production of gold in 2019 is projected to be between 150,000 and 160,000 ounces, the company said in a statement.
Due to better prices in the international market, in 2017 mineral exports totaled $183 million, 17% more than was reported at the end of 2016.
The Central Bank of Honduras reported that last year "...Shipments of gold -primarily to the US- amounted to US $100.1 million, US $5.6 million (5.9%) compared to last year's value."This increase is explained by an "... increase of 4.9% in volume and 1% in price."
The decrease in the exports of gold, silver and lead accounted for most of the years drop of 17% in exports from the mining sector up to August 2016.
From a report entitled "Foreign Trade General Merchandise" by the Central Bank:
Mining activity was valued at $103.7 million, down US $21.4 million compared to the same period in 2015; mostly explained by lower sales of gold, silver and lead.
The Supreme Court has rescinded in a "definitive" manner the permit for operating the mine La Puya, which had been awarded to the company Progreso VII Derivadas.
Putting a legal end to the controversy which arose three months ago, the Supreme Court decided to suspend the permit permanently, after differences of opinion arose between the Ministry of Energy and Mines and the Court over legal criteria.
In the last six years capacity mining production in the country has tripled and it is expected to increase even more with the startup of two new projects.
According to Denis Lanzas Cisneros, vice president of the Chamber of Mines of Nicaragua, one of the main reasons behind the growth of the sector in recent years is the regulatory framework which established the Mining Act, which "...
The attractiveness of the mineral resources in the country is overshadowed by legislation that raises doubts among international investors.
The validity of the Act on Promotion of the Development and Reconversion of Public Debt is raising doubts among international investors interested in mining in Honduras, according to Santos Gabino, advisor to the National Association of Metal Mining in Honduras.
The growth of the metal mining sector and the framework provided by a new mining law have generated interest from foreign companies.
Up until October 2013, the share of mineral products in exports of general merchandise was $232.7 million, equivalent to 7%. This, and the adoption of a new mining law last year, has attracted interest from foreign investors who have set their eyes on Honduras.
With mineral reserves estimated at $200 billion, continued growth is projected for an industry that in 2013 produced $553 million.
Already identified are 50 billion pounds of copper, 12 million ounces of gold, 25,000 ounces of silver and 250 tons of molybdenum, which at current prices amount to $200 billion.
"Of this total, 53% must stay in the country in the form of taxes on income and dividends," said Zorel Morales, Executive Chairman of the Mining Chamber of Panama.
The approval of the Mining Act has peaked the interest of investors interested in the exploration and exploitation of minerals, which could contribute up to $3.5 billion.
Laprensa.hn reports that "Santos Gabino Carvajal, president of the National Association of Metal Mining in Honduras (Anamimh), said that in the last seven years Honduras has not received a single dollar in mining investment, despite its great potential, and that all investments planned in the country were diverted to Nicaragua and Colombia. "
The Canadian company Tahoe Resources, which owns the Escobal silver mine, has announced that it has all of the funding and the project will start on time.
According to plan, the mine should begin operating in early 2014 and produce 317 million ounces of silver for 18 years, said Kevin McArthur, CEO of Tahoe.
The company said the project remains within the $326 million budget and that the initiative "is fully funded, we also have a significant reserve." At the end of 2011 the company had $350 million available in cash.
The Canadian miner reported gold and plant exports from the Marlin mine for $ 449.7 million in 2010.
Mario Marroquin Rivera, executive director of Goldcorp, explained that the total export of gold was $ 368 million and silver sales totaled $ 131 million.
Prensalibre.com notes in their article, "In the five years of operation of the Marlin mine, sales totaled $ 1,416 million, of which U.S.
Following the announcement about the increase of 144% in reserve estimates at the Guatemalan mine, Tahoe Resources closed $ 303 million in stock sales.
The purchase was made by a group of investors led by GMP Securities.
The share offer is to be completed by December 24th. If buyers execute an option to purchase another 3.3 million shares, Tahoe Resources will add another $ 45 million to resources available for project development.