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.
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.
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.
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:
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 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.
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 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”).
Companies in the sector point to the favorable geological conditions for this activity in the country and advocate that the suspension of concessions which has been in effect since 2009 be lifted.
Companies engaged in exploration and mining activities support their argument citing the new ways in which the activity now takes place, differentiating the artisanal mining techniques which were used in the past from those used in modern mining.
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. "
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