In Panama, it is being claimed that gold mining activity at the Cerro Quema mine will set back 18 months, due to a delay in approving the environmental study and the extension of a concession on the part of the government.
General managers of the company Minera Cerro Quema, in charge of the concession for the mine, stated that the Environmental Impact Study (EIA) was presented three years ago, and they have still not received approval from the authorities.
According to a recent study, companies that carry out mining activities in the country, operate with a profit margin of 22% before paying taxes.
The report prepared by Central American Business Intelligence (CABI), details that companies in the mining industry operating in Guatemala can achieve extraction costs of up to 55%.
Although the exports in this sector fell 9% during the past year, the union expects that in 2018 sales abroad could grow by 17%.
According to figures from the Central Bank of Nicaragua, sales abroad made by the mining sector totaled $338 million in 2017, which represents a reduction of 9% compared to the amount reported in 2016.
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.
For the third consecutive year, in 2017, foreign investment received by Guatemala fell compared to 2016, explained by a lack of legal certainty, particularly in the mining industry.
Even though no one expected great results at the end of 2017, the 3% fall with respect to foreign investment received in 2016 has worried the business sector, as it reinforces the downward trend seen since 2015, when the FDI received by the country was 12% lower than the amount reported the previous year.
In 2017, Central America countries imported $96 million worth of various common metal manufactures from Mexico, 14% more than what was purchased in 2016.
Figures from the information system on the Market for Common Metals in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
After several days of negotiation, Cobre Panama company has reached an agreement with the construction workers' union, and they will be able to resume construction work on the project.
Protests by workers at the Cobre Panama project in Colón held since the beginning of the yearhave keptwork on the power line and the 300 MW thermoelectric plantparalyzed for almost three months.
The protests which since the beginning of the year have been held by workers in the Cobre Panama project in Colón have paralyzed work on the power line and the 300 MW thermoelectric plant.
The labor dispute that has prevented the project from progressing arose after both parties, the workers' union and the company Minera Panamá, accused each other of not complying with some points of the agreement made between them in January, with intermediation on the part of the Ministry of Labor.
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."
From January to September 2017, countries in the region imported $430 million worth of aluminum and its manufactures, and 45% was purchased by companies in Costa Rica and Guatemala.
Figures from the information system on the Central American Market for Aluminium and its Manufactures, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with graph"]
Instituto Nacional de Electrificacion de Guatemala is putting out to tender geotechnical and geophysical studies for the Santa María Hydroelectric Power Plant.
In 2017 the value of sales to Germany and Belgium fell by 6% and 29% respectively, which is explained in part by the suspension of operations at El Escobal mine.
According to figures from Banco de Guatemala, between 2016 and 2017 exports from Guatemala to Germany fell from $148 million to $139 million, and to Belgium they dropped from $128 million to $90 million.The decrease in sales to Belgium is explained by the decrease in the export of lead, as it went down from $70 million in 2016 to $17 million in 2017.
Industrialists are demanding that the Constitutional Court rule on the request for legal protection that was granted in favor of an environmental group and which is keeping the mine's operations in a state of paralysis.
The project has been paralyzed since an environmental organization filed an request for legal protection against the mine, arguing that the Ministry of Energy and Mines did not carry out the necessary community consultations before authorizing the licenses.
The consortium Dong Jyu Group is exploring business opportunities in Honduras, with the objective of marketing minerals such as gold, silver and bronze, as well as opal and jade.
From a statement issued by the Honduran Institute of Geology and Mines:
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