Industry insiders report 10% growth in production volume, jobs and export revenue.
Boosted by increased demand in the United States and higher international prices, Honduras' sugar industry is experiencing generalized growth of around 10%.
"José Martín Chicas, vice president of the Honduran National Industry Association, the U.S. market is growing at rates above 10% and Honduras is seeking more through its Free Trade Agreements with Europe", reported newspaper Proceso Digital.
The Canadian company signed an option agreement for further exploration of the Zungano concession in Nueva Segovia, Nicaragua.
The Company has agreed to make expenditures totaling US$ 4.92 million over 51 months including exploration work, social programs, and payments to the current concession holder. If these obligations are fulfilled the concession will be totally controlled by the Company and the current owner will retain a residual royalty on gold sales of 1.5 percent to a maximum total of US$ 10 million.