Between January and November 2019, mining sector exports totaled $153 million, 16% less than what was reported in the same period in 2018.
Exports of mining activity recorded a value of $152.8 million, $27.6 million below what was observed in November 2018, as a result of the reduction of $17.4 million in shipments of zinc, related to the fall in price and volume exported, also, gold sales showed a decrease of $6.7 million, resulting from operational problems in some of the extracting companies, informed the Central Bank of Honduras.
Inversiones Los Pinares, in charge of building an iron oxide mine in Tocoa, Honduras, plans to begin exporting to the U.S. market in late 2020 or early 2021.
Representatives of the company informed that currently the construction works of the plant are carried out where the iron oxide that will be extracted from the mine will be processed and also warehouses, administrative offices and other enclosures are built.
The amendments to the law stipulate that prior to the request for exploitation, the mining authority shall require the municipal corporation to conduct a citizen consultation within a period not exceeding 90 days, and the decision adopted shall be binding for the granting of the concession.
If the result of the citizens' consultation is to oppose the exploitation, it cannot be carried out again after one year, prior to the installation of a social development table, the approved text specifies.
Exports from mining companies in Honduras totaled $133 million from January to July 2018, 35% more than reported in the first seven months of 2017.
The Central Bank of Honduras reported that during the first seven months of the year the exported value of zinc was $37.4 million, above the $24 million reported in the same period of 2017. This increase is mainly due to the 17.4 million pounds sold to Mexico and Belgium.
Between January and April of 2018, the Honduran mining sector generated $88 million in sales abroad, 60% more than was reported in the first four months of last year.
The Central Bank of Honduras (BCH) reported that between the first four months of 2017 and the same period in 2018, sales in the mining sector abroad grew from $55 million to $88 million.
The consortium Dong Jyu Group is exploring business opportunities in Honduras, with the objective of marketing minerals such as gold, silver and bronze, as well as opal and jade.
From a statement issued by the Honduran Institute of Geology and Mines:
February 5, Tegucigalpa. - The president of the Taiwanese consortium Dong Jyu Goup, Donal Lin and his team, met with the Executive Director of the Honduran Institute of Geology and Mines (INHGEOMIN), with the purpose of consolidating the mining investment processes currently being carried out in the country.
Gold, silver, lead and zinc were some of the main materials exported during 2017, and the main buyers were the USA, Germany, Aruba, Austria and Belgium.
The authorities at the Honduran Institute of Geology and Mines (Inhgeomin) presented figures for 2017 and explained that the good performance achieved last year was mainly due to favourable international prices and to the reactivation in economies such as the United States, which led to an increase in demand for metals and minerals, especially for construction.
In 2012 gold exports to Canada amounted to $377 million, equivalent to 54% of the total exported by the region that year, but four years later the figure has fallen to 0.
Figures of the information system on the Gold Market in Crude, Semi Wrought or Powder form in Central America, compiled by CentralAmericaData's Business Intelligence Unit: [GRAFICA caption = "Click to interact with the graph"]
It has been estimated that by the end of the year extraction of mineral resources will have generated about $50 million in revenue.
Extraction of minerals for the production of marble, gypsum, limestone, quartz, common clays and other materials could generate about $50 million this year, according to projections made by the Natural Resources and Environment Secretariat.
From July 26 to 28, companies from the sector will be gathering together in Tegucigalpa to take part in business roundtables and conferences on sustainable mining, water and climate change.
The III edition of the international congress will be held in Tegucigalpa.
The thematic axes of the event are: geological and geophysical explorations, mining processes, software and technological advances, sustainable mining, water, climate change and extractive industries.
In the first quarter of the year, exports from the mining sector totaled $39 million, an increase of 23% compared to the same period in 2016.
From a report by the Central Bank of Honduras:
The products classified in the mining activity accounted for an exported value of US $39.0 million, US $7.4 million (23.3%) more than in relation to March 2016; brought about by an improvement in the price of minerals in the international market, which has encouraged the largest shipments.
Between January and September 2016 the countries of the region exported 399 thousand tons of metalliferous minerals, led by Guatemala, with 375 thousand tons.
Figures from the information system on the the Metal Ores Market in Central America , compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption="Clic para interactuar con la gráfica"]
Mining, manufacturing and food companies project closing contracts with Central American companies worth at least $14 million this year.
"...Establishing contracts for commercial transactions worth between $13 and $14 million over the next 12 months, in the three Central American countries that they visited, is the goal of the Peruvian Trade Industry Mission," saidElmer Lava, from the Commission for the Promotion of Peru for Exports and Tourism (PromPeru).
In 2015 Honduras and Guatemala exported ores such as zinc, nickel and other precious metals worth $47 million and $46 million respectively.
Figuresfrom the Report on Import and Export of Ores, Slag and Ash in Central America,prepared by the Business Intelligence Unit at CentralAmericaData.com show that in 2015 the countries in the region exported 1,207,000 tons of ores, slag and ash, equivalent in value to $93.4 million.
Through its subsidiary Cobra Gold, Glen Eagle Resources has acquired a property of 15,000 square meters in Choluteca, to build a processing plant.
From a statement issued by Glen Eagle Resources:
MONTREAL, QUEBEC–(Marketwired – Oct. 6, 2016) – Glen Eagle Resources Inc. (TSX VENTURE:GER) (“Glen Eagle” or the “Company”) is pleased to announce that Cobra Oro, a wholly owned subsidiary of Glen Eagle, has purchased 15 000 square meters of land in Choluteka, Honduras. Based on the transaction, Cobra Oro acquires its own free trade zone which will reinforce its past exemption to pay a minimum 25% flat tax on profits, 25% duty tax on imports, reduce from 6% to 3% the sales tax on export and cancelled $8 000 in monthly rent as a tenant. The acquisition will further secure Cobra Oro’s ongoing expansion project supported at its core by an asset strategically located in one of the fastest economic growth area of all Honduras due in part to its low criminality rate among other factors.