The decision taken by the Guatemalan Constitutional Court confirming the suspension of La Puya mining project "violates the certainty and security of investments made in the country."
From a statement issued by the Chamber of Commerce in Guatemala:
Its branches and guilds throughout the country; state:
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.
Guatemala's industrialists are demanding speed in the resolution of the case against the La Puya mine, property of Exmingua, whose operating permit was annulled a year ago by the Supreme Court of Justice.
At the end of June last year, the Supreme Court of Justice "definitively" revoked theoperating permitfor the mine La Puya, awarded to the company Progreso VII Derivatives. Now the mining union is asking the Constitutional Court to resolve the problem more quickly, consistent with and as a consequence of the ruling issued to OXEC and as a sign of equal rights and respect for the legal certainty of Guatemala.
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").
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.
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 sale of the mine is part of a marketing plan for some of the assets owned by the Canadian concessionaire Goldcorp.
In addition to the operations of the Marlin mine, Goldcorp has put on sale its gold and silver mine Los Filos in Mexico, and also is studying alternatives to offload the Alumbrera mine in Argentina.
David Garofalo, executive director of the company, told Elperiodico.com.gt that "...
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.
On November 12nd and 13th Panama City Latin American mining companies will be gathering together in Panama City to address the challenges and opportunities for the industry in Central America.
The Mining Chamber of Panama is organizing the event, in conjunction with the Latin American Mining Organization (Olami), called the First International Mining Congress, which will focus on the challenges and opportunities of mining activities in Central America.
Businessmen are complaining that there are over one hundred applications for licenses which have been approved by the Attorney but are pending review and approval by the Ministry of Energy and Mines.
Mining companies in Guatemala say that one of the reasons for the delays in the process for obtaining mining exploration licenses is because the government does not support this sector of the economy.
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.
A study reveals the state's inability to meet the demands for services and road infrastructure that arise when a mining project is set up.
"Mining in Guatemala's economy in 2011 accounted for 2.8% of the production of goods and services nationwide .... By 2012, the total tax contribution of the mining sector was $62,496,766 equivalent to 5.7% of production of mining and quarrying," indicated the Central American Institute for Fiscal Studies (ICEFI).
Representatives of companies in the sector and investors will meet from 2 to 5 March in Canada in order to take part in the business conference.
The Prospectors and Developers Association of Canada (PDCA) has organized since 1932 the Annual Mining Convention which is attended by companies involved in the industry of mining exploration and exploitation in various countries.
Mining businesses are concerned about communities who are resistance to mining activities, delays in the approval of permits and amendments to the Mining Act.
Next on the list of concerns for the sector, is the evolution of the global crisis, which investments in the extractive industry are dependent on.
Elperiodico.com.gt reports that clashes with opposition social groups "is a matter of the state and could find a possible solution next year, said Fernando Castellanos, director of mining at the Ministry of Energy and Mines (MEM) . "
The Presidential Commission for Integral Development is analyzing the establishment of a framework covering all aspects of the use of natural resources.
This initiative emphasizes two main areas of interest, which are the rural economy and private investment in rural areas, explained the Guatemalan President Otto Perez Molina.
The president said that there are still three concessions that have not been put out to tender: two are in Petén, Alta Verapaz and another one in Huehuetenango, reported Lahora.com.gt.