Canada's Calibre Mining bought from B2Gold Nicaragua, the El Limón and La Libertad gold mines, as well as the Pavon project and other concessions, in a transaction that totaled $100 million.
The El Limón and La Libertad mines have produced more than 1.4 million ounces of gold since 2010, and their combined production of gold in 2019 is projected to be between 150,000 and 160,000 ounces, the company said in a statement.
Next year the B2Gold mining company plans to produce around 118 thousand ounces of gold in the Tope and San Juan project, in the municipality of La Libertad.
Authorities at the mining company explained that in 2017 production was lower because they had not obtained all of the permits, but now, with the approval of the environmental impact studies, B2Gold plans to increase activities and consequently the extraction of gold.
The canadian company B2Gold has announced that it will be carrying out studies to determine the feasibility of mining explotation in the municipality of Rancho Grande in Matagalpa.
Among the analysis to be carried out by the company in the area of Rancho Grande are studies on the "soil, water, air, flora, fauna and culture of the community" according to a report by Elnuevodiario.com.ni.
The Canadian company B2Gold will be extending exploration activities in the La Libertad gold mine for seven years and operating six other projects in other parts of the country.
The process of conversion of the La Libertad gold mine, initiated by the Canadian B2Gold and which currently extracts between 140,000 and 150,000 troy ounces of gold a year, will continue for seven years, according to statements made by company representatives.
Nicaraguan mining companies forecast more growth for 2014 in line with the investments made by the sector.
According to statistics from the Center for Exports (CETREX) up to November this year sales of raw gold rose by 10.4% going from 12,001 kg in 2012 to 13,251 in 2013. An increase in value of 2.9 % with revenues of $395.1 million was recorded, while in the same period of 2012 it was $389.9 million .
Falling gold prices in the international market are worrying the mining sector, but are not a reason to stop investing in the country.
In an interview in Laprensa.com.ni by Lucia Navas with Pablo Venturo, B2Gold's country manager, the official explains how the company's operations are in Nicaragua and their expectations for the future.
According to Venturo, recently there has been a significant drop in international prices, however, they are waiting to see what the trend will be over the next few months. "When we started operations in the country in April 2009 the price of gold was $850, since then there was an upward trend reaching its peak in 2011. In 2009 we started with major investments such as the acquisition of properties and the reconstruction of Mina La Libertad, which helped double production from forty thousand ounces a year to its current capacity of 130 thousand ounces. That was an investment of $74 million between 2009 and 2010. That investment has allowed us to maximize our revenue this year and leaves us ready and in a robust position to face a complex future. "
While the outlook is expected to improve at the international level, the mining industry in Nicaragua has announced that it is prepared to withstand the collapse of gold prices.
According to Pablo Venturo, B2Gold mining manager, the investments of about $400 million which have been implemented over the past four years has allowed them to be ready today for the collapse of gold prices in the international market.
The Canadian B2Gold announced its mine La Libertad, Nicaragua, extracted 110,000 ounces of gold in 2012.
The figure is 10% higher than the 100,000 ounces mined in 2011, and the company expects to reach the 130,000 mark in 2013.
In addition, B2Gold announced that next year it will invest $30 million in improving the machinery and equipment in the La Libertad and Santo Domingo mines.
The Canadian mining company buys 40% of shares from joint venture partner Radius Inc. for $20,08 million, and takes total control of Trebol and El Pavon gold mining sites in Nicaragua.
B2Gold Corp. and Radius Gold Inc. announced on April 9 the signing of a binding letter agreement pursuant to which B2Gold has agreed, among other things, to acquire a 100% interest in the Trebol and El Pavon gold properties in Nicaragua in consideration of C$20 million, payable in common shares of B2Gold at a price per share equal to the volume weighted average price of B2Gold’s common shares on the Toronto Stock Exchange (“TSX”) for the ten trading days immediately preceding the date of the letter agreement.
After six years of exploration the company B2Gold has confirmed the operation of a new mine in Rancho Grande.
At the moment the El Pavón project is at the stage of consultations with local authorities and the population for the purpose of assessing environmental impact, explained Martin Espalza, a representative from B2Gold.
"Espalza gave did not give details on the amount of investment required for the whole process of research and construction for the El Pavon project, but noted that the impact on employment generation will be very significant, especially for the regions near the quarry," reported Prensalibre.com.
The Canadian mining company will invest $100 million in the country in 2012 to expand its two gold mines.
B2Gold is the largest mining operation in Nicaragua, and owns La Libertad mine and 95% of the Limon mine, respectively producing about 90,000 and 40,000 ounces of gold annually. Together, the two mines are expected to generate $140 million in cash this year, 40% more than in 2011.
The government has denied a Canadian company a license.
The Costa Rican authorities in the mining sector have declined the request to reopen the Bellavista gold mine by the Canadian company B2 Gold, arguing that the act would be contrary to the national moratorium on mining.
The firm aims to revive gold mining in the area, which was suspended in 2007 after a landslide polluted the surrounding waters, reports Nacion.com.
The Canadian company B2Gold, which operates the Limon and La Libertad mining projects in Nicaragua, has announced higher revenues and production.
In the third quarter of 2011, the company’s gold mines produced a total of 34,303 ounces of gold and generated revenues of $50.5 million. This represents a 13% increase in production and a 26% increase in revenue, compared with the same period in 2010.
Three companies from the U.S. and Canada have acquired concessions rights for exploratory mining, with investments of about $5 million.
The new concessions add to those already existing in the country, in which a total of $12.7 million have been invested between January and May 2011, according to the Ministry of Energy and Mines (MEM).
Karla Guerrero, director of the Mining Chamber of Nicaragua told reporters that of the total investment, about $10 million has been earmarked for exploration and that at the current rate, investment could top 2010 levels of $20.7 million.
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