The Tikal mining company will appeal for reinstatement after the revocation of three licenses for the exploration of iron on the Pacific coast of Guatemala.
The announcement was made by Enrique Fernández Toledo, advisor and legal representative to the subsidiary company of Mayan Iron Corporation.
The Minister of Energy and Mines (MEM), Alfredo Pokus, announced in a press conference on 29 June that the project will not exceed its exploration phase.
The Ministry of Energy and Mines (MEM), has closed the project due to non-compliance of requirements by Tikal Minerals Company.
Minister Alfredo Pokus announced at a press conference that the project will not move past its exploration phase and the company involved has no claim options.
"Previously the Ministry of Environment had rejected the Environmental Impact Assessment, a requirement for the start of operations.", reported Prensalibre.com
The regulatory agency did not approve the Environmental Impact Study submitted by the company Tikal Minerals, a subsidiary of Maya Iron Corporation.
According to legal proceedings transcript 2010-537, The Ministry of Environment and Natural Resources (MARN) states that the proposed project "Central Porvenir" (LEXR 037-2009) was not approved.
Enrique Toledo from Tikal Minerals noted that there have been several attempts to get the study approved.
Tikal Minerals, G4G and Iron Sands have confirmed that preliminary studies indicate that the exploitation of iron sands is feasible.
Tikal Minerals, which has three exploration licenses, commented that it may be possible to obtain an annual average of 10 million tons of iron, located 10 meters below ground. It is estimated that up to 12% of world iron deposits may be located on Guatemalan soil.