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”).
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 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.
Conflicts over environmental protection and excessive bureaucracy in the process of granting concessions are the factors that limit the great mining potential in the region.
The mining sector in Central America represents great potential for investment and business, however, it has so far contributed only 0.75% to the Gross Domestic Product (GDP), averaged from the six countries in the region, between 2008 and 2012. Costa Rica reported the lowest activity with 0.1% and Panama the highest with 1.7% of GDP.
The study notes that in ten years the contribution of mining to the economy was only 1.25% of GDP.
From a press release issued by the Central Institute for Fiscal Studies (Icefi):
The study entitled "Assessment of the mining situation in Honduras 2007-2012" highlights the controversial nature of mining in Honduras, which generally comes from: a) conflicts between mining companies and communities; b) low levels of contribution to national and municipal taxes; c) environmental problems; d) human rights violations; d) weak legal framework and one which is favorable to mining companies; e) weakness state institutions which regulate mining activities.
The regulation allows surveys to determine if there is evidence of mineral deposits anywhere in the country, except in specifically excluded areas.
The General Mining Law, approved in January by the Honduran Congress, became effective upon publication in the official newspaper of the Republic, La Gaceta.
According to this law, the exploration stage should be governed by the Manual of Good Mining Practices, which has to be reviewed periodically to keep it updated.
There is an unbeatable way to end with mining once and for all.
Sometimes the best way to rebut extreme ideas is to reduce them to the absurd. This is what Santos Gabino Carvajal does in an article published in Sigloxxi.com.
It must be noted that Gabino Carvajal has a large stake in the matter, as he is the president of the Honduran Metal Mining Association. In any case, his point of view is very interesting and contributes to a discussion where extreme positions and arguments regularly become irrational.
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