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).
Canada's Calibre Mining bought from B2Gold Nicaragua, the El Limón and La Libertad gold mines, as well as the Pavon project and other concessions, in a transaction that totaled $100 million.
The El Limón and La Libertad mines have produced more than 1.4 million ounces of gold since 2010, and their combined production of gold in 2019 is projected to be between 150,000 and 160,000 ounces, the company said in a statement.
From January to September 2018, countries in the region exported $74 million in metalliferous minerals, and sales to Mexico tripled over the same period in 2017.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAFICA caption="Click to interact with the graphic"]
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"]
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"]
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"]
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.
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.
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"]
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"]
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"]
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