Pan American Silver agreed to acquire the shares of Canadian Tahoe Resources, thus becoming the owner of the Mina San Rafael project in Guatemala.
With no details on the transaction amount, it was reported that the agreement between the two companies was approved on January 8, 2019 and is expected to be finalized on February 26.
From January to June 2018, countries in the region exported $52 million in metal ores, and sales to Mexico increased 400% over the same period in 2017.
Figures from the information system on the Metalliferous Minerals Market in Central America, from the Commercial Intelligence Area of CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
Representatives of the El Tambor mine, located in San José del Golfo and San Pedro Ayampuc, filed a $300 million lawsuit against the State of Guatemala.
The arbitration lawsuit was filed by the Americans Daniel W. Kappes, Kappes, Cassidy & Associates, which was registered by the International Centre for Settlement of Investment Disputes (ICSID) last December 11th.
In Panama, activities related to mining are expected to increase by more than 10% in 2019, a growth that would be mainly due to copper extraction.
According to the Panamanian government, it is estimated that the economic activity of mining and quarrying will increase over 10% in 2019, as copper exports would exceed $2 billion per year.
The Pan American Silver mining company reported that it is interested in buying the shares of Canadian Tahoe Resources, the company owning Mina San Rafael in Guatemala.
Representatives of Minera San Rafael confirmed that interest exists by Pan American Silver, the world's second largest silver miningcompany with operations in Mexico, Peru, Bolivia and Argentina, in buying Tahoe Resources.
During the first half of the year, the countries of the region added $299 million in aluminum and its Manufactures, and 66% was imported by companies in Guatemala, Costa Rica and Panama.
Figures from the information system on the Central American Market for Aluminium and its Manufactures, compiled by the Trade Intelligence Unit at CentralAmericaData: [GRAFICA caption="Click to interact with graphic"]
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"]
Exports of metalliferous minerals from Central America summed $33 million from January to March 2018, and sales to Belgium increased 229% compared to the same period in 2017.
Figures from the information system on the Metalliferous Minerals Market in Central America, from the Commercial Intelligence Area of CentralAmericaData: [GRAFICA caption="Clic to interact with chart"]
Adverse court decisions against companies, social and political conflicts and fiscal issues are some of the factors that are impeding the development of productive projects in Central American countries.
One of the latest court decisions affecting companies with investments in the region was that of Minera Petaquilla, in Panama.
Arguing that the basic principles of public procurement were not complied with, in Panama the contract between the State and the company Petaquilla Minera has been declared unconstitutional.
The legal dispute began in 2009, when the Environmental Advocacy Center (CIAM) filed an unconstitutionality appeal against the contract that grants a twenty year concession to Cerro Petaquilla to exploit and sell gold, copper and other mineral resources.
Following the Guatemalan Constitutional Court's order of a community consultation as a requirement to resume operations at the San Rafael Mine, the company is now claiming that the timelines for the process are not clear.
Given the doubts that exist about the term that the government has to complete the process of community consultation, the mining company has decided to make another staff cut, given that it is unknown how long it will be before they can resume mining operations, which were halted on July 3, 2017.
Following the order to hold community consultations as a requirement for resuming operations at the San Rafael Mine in Guatemala, the authorities are waiting for the ruling to be be made firm in order to start a pre-consultation process.
After more than 300 days of waiting for a decision from the authorities, as a result of an appeal for legal protection filed by the environmental organization Calas, the Constitutional Court (CC) last week ordered a community consultation to be carried out, through the Ministry of Energy and Mines (MEM), into the operations area of the mine, in El Escobal, in the municipality of San Rafael Las Flores, department of Santa Rosa.
At last the Constitutional Court of Guatemala has spoken about the operation of Minera San Rafael, which has been paralyzed for more than a year, ordering a community consultation as a requirement to resume operations.
The project has been halted since mid-2017, when the environmental organization Calas filed an application for a declaration of fundamental rights against the mine, arguing that the Ministry of Energy and Mines had not carried out the community consultations before authorizing the operation licenses.
In the first semester of 2018, industrial activity in Guatemala decreased by 5% compared to the same period in 2017, explained by a decrease in mining activities, affected by the shutdown of operations at Minera San Rafael.
The index of industrial activity prepared by Central America Business Information (Cabi), shows that the mining sector registered a decrease of 41% compared to the first half of last year, reflecting the effect generated by the suspension of Minera San Rafael.See "Mining Company Still Not Operating"
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