In the third quarter of 2021, the volume sold of metallic minerals in the Central American region reached 2,731,659 Tons with a value of $2,176 million, being Panama the main exporter with $2,032 with main destination to China.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"]
The mining companies' association estimates that in 2021 gold exports will be 13% higher than the value exported during 2020, explained in part by an increase in the volume extracted and the rise in the international price.
Gold exports in Nicaragua have been on the rise in recent years, mainly explained by increased activity in the sector, added to the upward trend that the price has followed in the international market.
Plantel Los Angeles, a mixed capital company operating in Chontales, Nicaragua, plans to invest $25 million in the construction of three new raw gold processing plants.
The company, which will invest in the new processing plants, caters exclusively to producers who are classified as artisanal miners. The announcement of these projects comes in the context of the increase in gold exports, since between January 2020 and the same month of 2021, Nicaraguan sales abroad went from $50.6 million to $60.8 million.
Condor Gold, a British company that for 14 years has carried out exploration work in the province of León, in Nicaragua, announced that in 2021 it will invest in the construction of a metal processing plant.
According to company executives, the new industrial plant to be located in the municipality of Santa Rosa del Penon, will have the capacity to process 1,500 tons per day and the company is expected to start exporting by 2022.
The country is going through an economic crisis that has hit most sectors, however, gold seems to be on the sidelines of the bad times, as in the first nine months of the year exports totaled $397 million, 26% more than in the same period in 2019.
Between January and September 2018 and the same period in 2019, foreign sales of gold in the country increased by $82 million, going from $315 million to $397 million, according to figures from the Center for Export Procedures (Cetrex).
Palm oil, food supplies, paper and cardboard, beef and zinc minerals and its concentrates are the main products that Central American companies sell to companies in Mexico.
Figures from the Trade Intelligence Unit at 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. The contract that this company had signed with the Panamanian State was declared unconstitutional last week.
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.
From January to September 2017, regional exports of metalliferous minerals totalled $59 million, 40% more than in the same period in 2016.
Figures from the information system on the the Metal Ores Market in Central America, compiled by the Business Intelligence Unit at CentralAmericaData: [GRAFICA caption = "Click to interact with the graph"]
Next year the B2Gold mining company plans to produce around 118 thousand ounces of gold in the Tope and San Juan project, in the municipality of La Libertad.
Authorities at the mining company explained that in 2017 production was lower because they had not obtained all of the permits, but now, with the approval of the environmental impact studies, B2Gold plans to increase activities and consequently the extraction of gold.
Mining activities have grown at an annual average of 9% in the last ten years, mainly due to growing foreign investment, an increase in production and favorable international prices.
A report presented by the Nicaraguan Mining Chamber states that between 2006 and 2016, foreign direct investment totaled $793 million, having an annual average of $79 million.
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"]
The mining company Cóndor Gold is trying to put an end to the blockades that the local population have held in place for ten days at the La India mine in Nicaragua.
Exhausting all possible resources, the company Cóndor Gold is proposing a dialogue to the leaders of the group of local inhabitants who are protesting against the mining project in the municipality of Santa Rosa del Peñón.