Plantel Los Angeles, a mixed capital company operating in Chontales, Nicaragua, plans to invest $25 million in the construction of three new raw gold processing plants.
The company, which will invest in the new processing plants, caters exclusively to producers who are classified as artisanal miners. The announcement of these projects comes in the context of the increase in gold exports, since between January 2020 and the same month of 2021, Nicaraguan sales abroad went from $50.6 million to $60.8 million.
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.
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"]
In the first ten months of the year gold exports generated $293 million in foreign exchange, 12% more than in the same period in 2015.
Figures from the Center for Exports in Nicaragua (CETREX) indicate that the volume of exports also grew in the period in question, going from 6.94 tons sold abroad between January and October 2015 to 7.31 tons in the same period in 2016.
In 2016 mining companies are proposing to increase productivity in order to offset the dip seen in the international price of the metal.
Achieving "more with less" is the premise of companies operating gold mining concessions in the country, who project that the international price of gold will remain at the same levels it has been since 2011. The mining companies goal is to maintain the capacity of existing mines, without making any major investments.
Government spokeswoman Rosario Murillo relayed the presidential decision to declare mining in Rancho Grande unviable, and cancel exploration in the area.
The mining concession was obtained by the Canadian company Nueva Esperanza in 2005 and two years ago another Canadian company B2Gold took over the project, which still was in the exploration stage, but without any earthworks having been carried out.
In the nineties a village in Costa Rica was populated by dreams of a promising future driven by the exploitation of a gold mine. Today there are only 27 inhabitants, left without hope.
EDITORIAL
An article on Nacion.com reports on the ups and downs of the gold mine project in Crucitas, in Costa Rica, which eventually fell through because environmental forces prevailed over sustainable development, leaving a long series of damages to the country in terms of confidence in the security of investments, tax losses, and mainly in the hopes of human beings who believed in and supported the mine being a catalyst for progress in the area. As usually happens, the only winners were the lawyers who litigated and continue litigating for both sides.
In the remainder of the year B2Gold plans to invest $23 million in mining work, expansion of tailings dam and other works in the La Libertad gold mine in Chontales.
In addition, the concessionaire plans to invest $5 million in exploration in areas close to the mine and within the concession area. Representatives from the B2Gold predict closing 2015 with a total production of between 135,000 and 145,000 ounces of gold from the La Libertad and Santo Domingo mines.
Low gold prices and weaker external demand account for 14% of the annual fall in the export of metal products for March.
In the first quarter of 20,700 ounces of gold were exported, down from the 73,800 ounces sold in the same period in the previous year. The main reason behind this decrease is the fall is the international price of gold, which has remained low over the past year and part of this year.
The mining company HEMCO has announced it will gradually be reactivating its activities in the Bonanza gold mine, after they were stopped due to disturbances caused by artisanal miners.
Mining operations will resume completely in approximately five days, relying on the support and confidence shown by the Nicaraguan government.
The Colombian company HEMCO has suspended its activities due to violence shown by a group of artisanal miners who blocked the exit of materials and destroyed company property.
Aiming to ensure the safety of its employees and raw materials which are highly toxic, the Colombian mining company has suspended operations until the violent environment that they faced, which is affecting business and the economic climate of the municipality, has been stablalized.
The Colombian company Mineros SA, owner of HEMCO in Nicaragua has announced that it will reduce investments in Colombia and focus on operation of the gold mine La Bonanza, in the Central American country.
From a statement issued by Mineros S.A .:
At the Annual Shareholders' Meeting of MINEROS S.A. held yesterday at the Country Club Ejecutivos, with the administration headed by Beatriz Uribe (who is conceding her post as CEO to Andres Restrepo from next May 1) confirmation was given to the partners that the company will reduce investments due to volatility in the price of gold.
The Canadian company B2Gold will be extending exploration activities in the La Libertad gold mine for seven years and operating six other projects in other parts of the country.
The process of conversion of the La Libertad gold mine, initiated by the Canadian B2Gold and which currently extracts between 140,000 and 150,000 troy ounces of gold a year, will continue for seven years, according to statements made by company representatives.
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 concessionaires of the India and San Albino Murra mines are carrying out the feasibility studies needed to obtain approval to begin operations.
The India mine, owned by the concessionaire Condor Gold, is the one which is closest to operations, assuming the feasibility studies give good results.
Carlos Zarruck, Director of Mines at the Ministry of Energy and Mines (MEM), said in an article on Laprensa.com.ni that "investment by the company in this area amounts to $150 million. "India Mine is the next industrial that could be the same size as El Limon mine or the Bonanza mine, in terms of exploitation," he added.