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 150% plummet that exports have suffered in the last two years is attributed to a fall in international prices of metals.
The fall in international prices of metals is the main reason behind the drop of almost 150% in foreign sales in the mining sector from 2015 to date. In the first half of 2015 the value of exports amounted to $256 million, while in the same period in 2016, it fell to $80.5 million, according to the Honduran Institute of Geology and Mines (Inhgeomin).
After having purged concessions made in the past, the government is now providing new exploration licenses at the rate of 20 per month.
'Growing interest ... between domestic and foreign investors " has been noted in relation to the opportunities the country offers in this area.
The approximately 20 requests per month registered are for mineral exploration, because before granting an operating permit a series of studies must be carried out in order to determine if the area is profitable. Currently only 6 companies, mostly of foreign capital, have licenses.
At the moment studies are being carried out on more than 160 applications from companies seeking to explore mining areas under the framework of the new legislation passed in 2013.
Since the adoption of the new Law on Mining operations in Honduras, the Honduran Institute of Geology has received more than 160 applications for exploration permits from mining companies.
The growth of the metal mining sector and the framework provided by a new mining law have generated interest from foreign companies.
Up until October 2013, the share of mineral products in exports of general merchandise was $232.7 million, equivalent to 7%. This, and the adoption of a new mining law last year, has attracted interest from foreign investors who have set their eyes on Honduras.
Companies from several countries are waiting for regulations on the new Mining Act in order to exploit the nation's mineral potential.
According to the Minister of Geology and Mines, Aldo Santos, the regulations could be ready in late August. He explained that after that date the Honduran Institute of Geology and Mines will respond to all of the concession applications it receives.
español
6404
