On August 16 and 17, 2018 companies in the international mining industry will be gathering together in Managua, to take part in business conferences and discuss issues related to the sector.
The event is being organized by the Mining Chamber of Nicaragua and is expected to involve mining companies from all of the countries in Central America, and Canada, the United States, Colombia, Australia, England and Argentina.
The protests which since the beginning of the year have been held by workers in the Cobre Panama project in Colón have paralyzed work on the power line and the 300 MW thermoelectric plant.
The labor dispute that has prevented the project from progressing arose after both parties, the workers' union and the company Minera Panamá, accused each other of not complying with some points of the agreement made between them in January, with intermediation on the part of the Ministry of Labor.
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.
The bill contemplates creating a National System for the Distribution of Mining State Income, which would use the funds generated to finance sustainable development projects in the country.
From a statement issued by the Ministry of Energy and Mines:
SANTO DOMINGO, December 17, 2017. The Ministry of Energy and Mines (MEM) sent the Executive Branch theDraft Mining Law, a consensual initiative that promotes a greater participation of the State in the wealth extracted without being detrimental to the profitability of private enterprise in a win-win model.
Businessmen from the Dominican mining industry will be meeting on December 5 to discuss, among other issues, how to improve conditions to attract more investment to the sector.
The activity is being organized by the Oil Mining Chamber of the Dominican Republic (Camipe), and will be held at the Sheraton Hotel in Santo Domingo.
In a statement the Camipe stated that "...The first panel, which which is entitled 'Importance of mining in the Dominican Republic', will be presented by Jochi Vicente, general manager of MacroAnalit and as panelists to Ernesto Selmán, vice president of the Regional Center for Sustainable Economic Strategies (Crees); Álvaro Sousa Sevilla, president of Adoexpo, and Felix Nova, senator of the Monseñor Nouel province."
Mining activities have grown at an annual average of 9% in the last ten years, mainly due to growing foreign investment, an increase in production and favorable international prices.
A report presented by the Nicaraguan Mining Chamber states that between 2006 and 2016, foreign direct investment totaled $793 million, having an annual average of $79 million.
Metallic and non-metallic mining projects granted in concession cover 8.4% of the country's land area, but less than 1% are in operation.
From a report by the Chamber of Mining:
Of each dollar generated from metallic mining,0.66 cents remain in Nicaraguain the form of payments for taxes, remuneration and acquisition of local goods and services. This is one of the main conclusions of the study entitled 'Analysis of mining activity in Nicaragua 2006-2016',prepared by the economist Néstor Avendaño, president of Consultores para el Desarrollo Empresarial S.A. (COPADES).
The company Oceana Gold has paid the $8 million it owed because of the international arbitration case it lost against the Salvadoran state and has announced that it has no plans to continue mining activities in the country.
With the payment of $8 million plus interest, an end has been brought to the litigation that began years ago between Pacifi Rim, now Oceana Gold, and the Salvadoran 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.
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), "...
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 union of mining companies is promoting the arrival of new foreign investments in order to achieve greater development and formalization of metal mining in the country.
The president of the Mining Chamber of Nicaragua (Caminic), Sergio Rios, presented to foreign businessmen the characteristics and conditions offered by the country's for mining investments and invited them to invest in the country and take advantage of its geological potential.
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.
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.
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