The Canadian mining company GoldCorp has agreed to sell 100% of its stake in the gold and silver mining project Cerro Blanco located in Asuncion Mita, Jutiapa, to Bluestone Resources.
From a press release by Goldcorp:
VANCOUVER, Jan. 11, 2017 /CNW/ - GOLDCORP INC. (TSX: G, NYSE: GG) today announced that the Company has entered into an agreement (the "Agreement") pursuant to which it has agreed to sell its 100% interest in the Cerro Blanco gold-silver project, located in Guatemala, to Bluestone Resources Inc. (TSXV: BSR) ("Bluestone").
Nine suppliers of goods and services to the mining sector will be visiting Panama from November 21 to 25 to explore business opportunities.
Under the framework of the Mining Congress nine companies will visit Panama to take part in business meetings with mining companies who have operations in the country.
Laestrella.com.pa reports that "...The Chilean companies are: Buza Servicios Integrales, Detecciones geoeléctricas Sealing Check, Jaime Bravo y Compañía, JTS ingenieros, IFC Ingeniería, Sociedad Comercial MCM Industria Minera, Core Mining, Allmarketgroup and Ingeniería de Sistemas en Alta Tecnología S.A. "
The arrival of foreign investment to the west of the country is being promoted, in places where there are already companies interested in developing the potential for metal mining in the area.
The Mining Chamber of Nicaragua projects growth of 5% in exports this year compared to 2015, driven by a rebound in gold prices internationally and investments in the sector.Sergio Rios, director of the union, also attributed the positive growth projection to the approximate 5% achieved in production.
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.
From November 23 to 25 Latin American mining companies will be meeting in Panama City to explore business opportunities for the mining industry in Central America.
The Mining Chamber of Panama is organizing, in conjunction with the Latin American Mining Organization (Olami) a Second International Mining Congress, which will focus on challenges and opportunities for mining activities in Central America.
The Belgian company Nyrstar sold to Morumbi Resources 100% of the subsidiary American Pacific Honduras, owner of the El Mochito zinc mine.
From a press release by Morumbi Resources:
Toronto, Ontario, September 22, 2016 – Morumbi Resources Inc. (“Morumbi” or the “Company”) (TSX-V:MOC) is pleased to announce that it has entered into a share purchase agreement (the “Agreement”) with certain affiliates of Nyrstar NV (collectively "Nyrstar") to purchase 100% of Nyrstar's indirect subsidiary American Pacific Honduras SA de CV ("AMPAC") and its flagship asset, the producing El Mochito Zinc Mine (collectively "El Mochito") in Honduras (the “Transaction”).
The 150% plummet that exports have suffered in the last two years is attributed to a fall in international prices of metals.
The fall in international prices of metals is the main reason behind the drop of almost 150% in foreign sales in the mining sector from 2015 to date. In the first half of 2015 the value of exports amounted to $256 million, while in the same period in 2016, it fell to $80.5 million, according to the Honduran Institute of Geology and Mines (Inhgeomin).
The decline in production and lower international prices explain the 20% drop in sales abroad in the first half of the year compared to the same period in 2015.
The results from the first half of the year come at a time when the suspension of several mining licenses has started to cause uncertainty among companies and concessionaires in the sector. See: "Another Two Mines Suspended in Guatemala" and "Mining Moratorium Proposed".
Less mining of metals such as silver, lead, zinc and iron oxide explains the 17% drop in mining activities in the first quarter, compared to the last quarter.
In the quarterly GDP report up to March 2016 the Central Bank states that"...The negative result in Mining and Quarrying (-17.0%) was associated with a decline in metal ore mining (silver, lead, zinc and iron oxide), which has been discouraged by low prices in the international market, which do not stimulate the development of projects aimed at exploring new mineral deposits. "
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 first four months of the year foreign sales fell by 5.5% year-on-year, affected by lower volume and lower average international prices.
The Foreign Trade report by the Central Bank of Nicaragua said that exports in the mining sector contracted by 5.5% in the period from January to April compared with the same period in 2015, reaching $107.4 million.
The Mining Exploitation Project Niquegua Montufar II, run by Compañía Guatemalteca de Níquel, and the one called Tajmulco II, by Montana Exploradora de Guatemala, have been suspended by the government.
A statement issued by the Ministry of Energy and Mines indicates that "...Adhering to the appeal granted by the First Chamber of the Court of Appeals of the Civil and Commercial Branch constituted in the Court of Appeal, the Ministry of Energy and Mines (MEM), notified Compañía Guatemalteca de Níquel (CGN), of the suspension of its authorization license for operating the mining exploitation project Niquegua Montufar II. "
The launch of an online approval system for mineral export inspection has been announced.
From a statement issued by the Honduran Institute of Geology and Mines:
Tegucigalpa April 20, 2016.- In a representative event by the Honduran Institute of Geology and Mines INHGEOMIN, a step has been taken towards the cutting edge with the launch of the online Inspection Approval Module for Exporting Minerals, which is a new technology platform that will benefit exporters as a new form of communication between citizens and the INHGEOMIN in its capacity as regulator of mining activities in Honduras.
On August 16 and 17 industry representatives from around the globe will be taking part in business conferences and lectures on the role of mineral resources and the impact of the activity on the economy.
The II International Mining Congress is being organized by the Mining Chamber of Nicaragua and will be held on August 16 and 17 in Managua.
The conference will include business conferences, panels and lectures on the economic and social impact of mining on communities; the role of metallic and non-metallic mineral resources in developing countries and environmental challenges in modern mining.
The mining company which is an investor in the Cerro Chorcha project, in Bocas del Toro, has demanded international arbitration against Panama for expropriating the concession in 2010.
Six years after the Panamanian government expropriated the concession belonging to Dominion Minerals Corporation, in Cerro Chorcha in Bocas del Toro, the American company has filed for arbitration, Laestrella.com.pa reported.