This year's projections are for production of 276 thousand troy ounces of gold and 689 thousand silver, and it is expected that $355 million will be generated in export earnings.
The mining companies' association predicts that private investment this year will range from $125 million to $140 million.Sergio Ríos, president of the Mining Chamber of Nicaragua (Caminic),"... recently stated that 'gold production in 2016 amounted to 267,000 troy ounces' and that since 2011 the production of precious metal has grown at a annual average rate of 9.3%'."
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.
The Assembly is preparing to approve a bill that creates the Nicaraguan Mining Company (Empresa Nicaragüense de Minas), which will be able to participate in exploration and exploitation activities carried out by companies who have received concessions.
In addition to the possibility of participating directly in activities carried out by concessionaire companies, once the law is approved, the Nicaraguan Mining Company (ENIMINAS), "...
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.
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.
In the first four months, gold sales abroad generated $110 million, an increase of 8% compared to the same period in 2016.
The mining companies' association attributes the good results achieved between January and April to stability in the international price of gold and an increase in production.Sergio Ríos, president of the Nicaraguan Chamber of Mining (Caminic), pointed out thatat the end of last April the price of gold remained at an average of US $1,255 per troy ounce.
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"]
The Public Prosecutor's Office has frozen the company's property, vehicles and bank accounts, because it has not yet paid the $8 million plus interest owed from an international arbitration case which it lost to the Salvadoran State.
From a statement issued by the Attorney General of El Salvador:
The Attorney General of the Republic managed to freeze buildings, vehicles and bank accounts owned by the mining company Oceana Gold, formerly Pacific Rim, for non-payment of court costs to the State of El Salvador, under an international arbitration case initiated by the mining company with the International Center for Settlement of Investment Disputes (ICSID), which it lost and in which it was ordered to pay eight million dollars for expenses incurred by the country.
The recently approved law prohibits exploration, extraction, exploitation and processing, at the surface or underground, and the use of toxic chemicals in any metal mining process.
In El Salvador the metal mining business does not have much significance, since up until now the income resulting from this activity has been very low.In 2013 the value of exported ores was only $1.3 million, going up to $1.6 million in 2014, and falling to $600,000 in 2015.
A new ruling by the International Center for Settlement of Investment Disputes requires the mining company OceanaGold to pay interest on the $8 million it owes to the Salvadoran State.
From a statement issued by the Comptroller General of the Republic:
The International Center for Settlement of Investment Disputes (ICSID) has reported that the mining company Oceana Gold (formerly Pacific Rim) must pay interest to the State of El Salvador on the legal costs owed by the aforementioned transnational.
Goldcorp has announced that the process of closing the gold mine has already started and will be completed within four to five months.
The company that owns the mine in San Marcos started the vegetation recovery process in 2012, when it finished open air exploitations, and is now completing the process of recovery in the underground area, which it expects to finish this year.
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.
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. "
Up to 150 tons per day of materials extracted from artisanal mines will be processed by the new plant, which is the result of an agreement between the State and the private sector.
The Mining Chamber of Nicaragua explained that the plant will operate under the"Mining for All"program, agreed between the business sector and the Nicaraguan government, in order to cater exclusively to artisanal workers.