The value of gold exported from Central America in the first three months of the year reached $132 million, 11% more than the value reported for the same period in 2017.
Figures from the information system Mercado de Oro en Bruto, Semilabrado o en Polvo en Centroamérica, from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption=Click to interact with graphic"]
The Supreme Court has rescinded in a "definitive" manner the permit for operating the mine La Puya, which had been awarded to the company Progreso VII Derivadas.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.
The mining company is progressively reducing gold extractions and will achieve total closure in 2017, while efforts begin to recover the area.
During 2013 202.200 ounces of gold were extracted, while in 2014 a decrease was reported of at least 185,000 ounces. It is expected that production this year will be equal to or lower to those last year and 2016 is expected to be the last year that extractions will be made, projecting approximately 150,000 ounces.
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.
Mining in Guatemala pays 1% in royalties. In Colombia, the royalties are 4% and in Chile's mining industry pays the state 14% of gross sales.
In the past five years, exports of silver and gold have increased from $14.6 million in 2005 to $528 million in 2010.
The most recent announcement made by the Canadian mining Goldex Resources Corporation, revealed preliminary results of testing of the first seven out of twelve drill holes, on its flagship property, the El Pato Project, in Chiquimula. "The mining company said it has found high-grade mineralization of 12.4 grams of gold per ton", reported Alexis Batres in an article in Elperiodico.com.gt.
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.
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.
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.
Radius Gold will invest $4.5 million in gold extraction at its Holly-Banderas mine, in southeast Guatemala.
The company operates two gold mines in Guatemala and one in Nicaragua. It has secured the $4.5 million financing through a non brokered private placement.
Simon Ridgway, the President of Radius said: "We hold a very large land position in a very prospective belt of rocks.
BacTech Gold Corporation signed a letter of intent to by the gold and antimony mine called “San Ildefonso Ixtahuacan”, for $19 million.
This mine started operations in 1969, and is currently operated by “Minas de Guatemala S.A.”, a subsidiary of Caribbean Resources Group Corporation.
According to the signed conditions, BacTech will have an 18 month period in which to exercise an option to purchase the asset, which includes approximately 500 hectares of land, a mill and associated equipment.
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.