Inversiones Los Pinares, in charge of building an iron oxide mine in Tocoa, Honduras, plans to begin exporting to the U.S. market in late 2020 or early 2021.
Representatives of the company informed that currently the construction works of the plant are carried out where the iron oxide that will be extracted from the mine will be processed and also warehouses, administrative offices and other enclosures are built.
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."
It has been estimated that by the end of the year extraction of mineral resources will have generated about $50 million in revenue.
Extraction of minerals for the production of marble, gypsum, limestone, quartz, common clays and other materials could generate about $50 million this year, according to projections made by the Natural Resources and Environment Secretariat.
In the first quarter of the year, exports from the mining sector totaled $39 million, an increase of 23% compared to the same period in 2016.
From a report by the Central Bank of Honduras:
The products classified in the mining activity accounted for an exported value of US $39.0 million, US $7.4 million (23.3%) more than in relation to March 2016; brought about by an improvement in the price of minerals in the international market, which has encouraged the largest shipments.
The decrease in the exports of gold, silver and lead accounted for most of the years drop of 17% in exports from the mining sector up to August 2016.
From a report entitled "Foreign Trade General Merchandise" by the Central Bank:
Mining activity was valued at $103.7 million, down US $21.4 million compared to the same period in 2015; mostly explained by lower sales of gold, silver and lead.
From November 23 to 25 Latin American mining companies will be meeting in Panama City to explore business opportunities for the mining industry in Central America.
The Mining Chamber of Panama is organizing, in conjunction with the Latin American Mining Organization (Olami) a Second International Mining Congress, which will focus on challenges and opportunities for mining activities in Central America.
The Belgian company Nyrstar sold to Morumbi Resources 100% of the subsidiary American Pacific Honduras, owner of the El Mochito zinc mine.
From a press release by Morumbi Resources:
Toronto, Ontario, September 22, 2016 – Morumbi Resources Inc. (“Morumbi” or the “Company”) (TSX-V:MOC) is pleased to announce that it has entered into a share purchase agreement (the “Agreement”) with certain affiliates of Nyrstar NV (collectively "Nyrstar") to purchase 100% of Nyrstar's indirect subsidiary American Pacific Honduras SA de CV ("AMPAC") and its flagship asset, the producing El Mochito Zinc Mine (collectively "El Mochito") in Honduras (the “Transaction”).
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).
Less mining of metals such as silver, lead, zinc and iron oxide explains the 17% drop in mining activities in the first quarter, compared to the last quarter.
In the quarterly GDP report up to March 2016 the Central Bank states that"...The negative result in Mining and Quarrying (-17.0%) was associated with a decline in metal ore mining (silver, lead, zinc and iron oxide), which has been discouraged by low prices in the international market, which do not stimulate the development of projects aimed at exploring new mineral deposits. "
The launch of an online approval system for mineral export inspection has been announced.
From a statement issued by the Honduran Institute of Geology and Mines:
Tegucigalpa April 20, 2016.- In a representative event by the Honduran Institute of Geology and Mines INHGEOMIN, a step has been taken towards the cutting edge with the launch of the online Inspection Approval Module for Exporting Minerals, which is a new technology platform that will benefit exporters as a new form of communication between citizens and the INHGEOMIN in its capacity as regulator of mining activities in Honduras.
On August 16 and 17 industry representatives from around the globe will be taking part in business conferences and lectures on the role of mineral resources and the impact of the activity on the economy.
The II International Mining Congress is being organized by the Mining Chamber of Nicaragua and will be held on August 16 and 17 in Managua.
The conference will include business conferences, panels and lectures on the economic and social impact of mining on communities; the role of metallic and non-metallic mineral resources in developing countries and environmental challenges in modern mining.
The companies that took part in the prequalification did not meet the minimum requirements for the project set by Coalianza for the construction and operation of an industrial mining park.
From a statement issued by Coalianza:
The Technical Committee of the International Public Tender for Procurement of an Investor Operator for the Design Financing, Exploration, Exploitation, Operation and Marketing of a 200 hectare Industrial Mining Park Project in the Community of San Juan Arriba, Municipality of El Corpus Department of Choluteca, Honduras, wishes to communicate to all interested companies and the general public that the companies / consortiums participating in the process did not comply with the minimum requirements set out in the prequalification document therefore, the process was declared void by the Project Technical Committee . Immediate actions are being taken to relaunch the international public tender as soon as possible.
In the nineties a village in Costa Rica was populated by dreams of a promising future driven by the exploitation of a gold mine. Today there are only 27 inhabitants, left without hope.
EDITORIAL
An article on Nacion.com reports on the ups and downs of the gold mine project in Crucitas, in Costa Rica, which eventually fell through because environmental forces prevailed over sustainable development, leaving a long series of damages to the country in terms of confidence in the security of investments, tax losses, and mainly in the hopes of human beings who believed in and supported the mine being a catalyst for progress in the area. As usually happens, the only winners were the lawyers who litigated and continue litigating for both sides.
Between January and April this year, mining sales totaled $71 million, $20.8 million less than that recorded in the same period in 2014.
The report by the Central Bank of Honduras said that the decline was mainly because so far this year they have not been exporting iron oxide due to the temporary closure of the companies dedicated to this sector because of the implementation of new extraction methods.
The Hernández administration has agreed to reserve 18 zones with mining potential for exploration and exploitation in order to generate resources for the state.
Of the 950 sites that are being evaluated to determine whether they have potential for mineral extraction, 18 have been reserved for exploitation by the state.
Ebal Diaz, presidential adviser, told Laprensa.hn that "...