Exports from mining companies in Honduras totaled $133 million from January to July 2018, 35% more than reported in the first seven months of 2017.
The Central Bank of Honduras reported that during the first seven months of the year the exported value of zinc was $37.4 million, above the $24 million reported in the same period of 2017. This increase is mainly due to the 17.4 million pounds sold to Mexico and Belgium.
The value of gold exported from Central America in the first three months of the year reached $132 million, 11% more than the value reported for the same period in 2017.
Figures from the information system Mercado de Oro en Bruto, Semilabrado o en Polvo en Centroamérica, from the Trade Intelligence Area of CentralAmericaData: [GRAFICA caption=Click to interact with graphic"]
Between January and April of 2018, the Honduran mining sector generated $88 million in sales abroad, 60% more than was reported in the first four months of last year.
The Central Bank of Honduras (BCH) reported that between the first four months of 2017 and the same period in 2018, sales in the mining sector abroad grew from $55 million to $88 million.
Due to better prices in the international market, in 2017 mineral exports totaled $183 million, 17% more than was reported at the end of 2016.
The Central Bank of Honduras reported that last year "...Shipments of gold -primarily to the US- amounted to US $100.1 million, US $5.6 million (5.9%) compared to last year's value."This increase is explained by an "... increase of 4.9% in volume and 1% in price."
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 World Bank projects that the price of a barrel of oil will rise to $56, metal prices will stabilize, gold prices will tend to rise and agricultural prices will increase, due to a decline in supply.
From a report by the World Bank:
WASHINGTON, October 26 - Oil prices are forecast to rise to $56 a barrel in 2018 from $53 this year as a result of steadily growing demand, agreed production cuts among oil exporters and stabilizing U.S. shale oil production, while the surge in metals prices is expected to level off next year, the World Bank said on Thursday.
In 2012 gold exports to Canada amounted to $377 million, equivalent to 54% of the total exported by the region that year, but four years later the figure has fallen to 0.
Figures of the information system on the Gold Market in Crude, Semi Wrought or Powder form in Central America, compiled by CentralAmericaData's Business Intelligence Unit: [GRAFICA caption = "Click to interact with the graph"]
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. "
Operations have been resumed following an agreement between representatives of government, community, and the mining company Minerales de Occidente.
An article on Laprensa.hn reports that "...Until a few days ago, Minerales de Occidente had halted its operations, embroiled in resolving protests, demonstrations and strikes in the area where it operates, on the part of groups representing the community who questioned operation of the mine."
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.
In the nineties a village in Costa Rica was populated by dreams of a promising future driven by the exploitation of a gold mine. Today there are only 27 inhabitants, left without hope.
EDITORIAL
An article on Nacion.com reports on the ups and downs of the gold mine project in Crucitas, in Costa Rica, which eventually fell through because environmental forces prevailed over sustainable development, leaving a long series of damages to the country in terms of confidence in the security of investments, tax losses, and mainly in the hopes of human beings who believed in and supported the mine being a catalyst for progress in the area. As usually happens, the only winners were the lawyers who litigated and continue litigating for both sides.
Between January and April this year, mining sales totaled $71 million, $20.8 million less than that recorded in the same period in 2014.
The report by the Central Bank of Honduras said that the decline was mainly because so far this year they have not been exporting iron oxide due to the temporary closure of the companies dedicated to this sector because of the implementation of new extraction methods. This situation is partly offset by the increase in the value of sales of gold, zinc, silver and lead.
español
2748