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:
February 5, Tegucigalpa. - The president of the Taiwanese consortium Dong Jyu Goup, Donal Lin and his team, met with the Executive Director of the Honduran Institute of Geology and Mines (INHGEOMIN), with the purpose of consolidating the mining investment processes currently being carried out in the country.
Through its subsidiary Cobra Gold, Glen Eagle Resources has acquired a property of 15,000 square meters in Choluteca, to build a processing plant.
From a statement issued by Glen Eagle Resources:
MONTREAL, QUEBEC–(Marketwired – Oct. 6, 2016) – Glen Eagle Resources Inc. (TSX VENTURE:GER) (“Glen Eagle” or the “Company”) is pleased to announce that Cobra Oro, a wholly owned subsidiary of Glen Eagle, has purchased 15 000 square meters of land in Choluteka, Honduras. Based on the transaction, Cobra Oro acquires its own free trade zone which will reinforce its past exemption to pay a minimum 25% flat tax on profits, 25% duty tax on imports, reduce from 6% to 3% the sales tax on export and cancelled $8 000 in monthly rent as a tenant. The acquisition will further secure Cobra Oro’s ongoing expansion project supported at its core by an asset strategically located in one of the fastest economic growth area of all Honduras due in part to its low criminality rate among other factors.
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. "
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.
In Guatemala academics are trying to halt the mining industry while new rules for the sector are studied, instead of making concrete proposals to correct what needs to be corrected.
EDITORIAL
An academic consortium is proposing that the State of Guatemala turn its back on an industry that generates employment and income and suspend the granting of mining concessions in the country.
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.
On November 12nd and 13th Panama City Latin American mining companies will be gathering together in Panama City to address the challenges and opportunities for the industry in Central America.
The Mining Chamber of Panama is organizing the event, in conjunction with the Latin American Mining Organization (Olami), called the First International Mining Congress, which will focus on the challenges and opportunities of mining activities in Central America.
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 "...
After having purged concessions made in the past, the government is now providing new exploration licenses at the rate of 20 per month.
'Growing interest ... between domestic and foreign investors " has been noted in relation to the opportunities the country offers in this area.
The approximately 20 requests per month registered are for mineral exploration, because before granting an operating permit a series of studies must be carried out in order to determine if the area is profitable. Currently only 6 companies, mostly of foreign capital, have licenses.
Conflicts over environmental protection and excessive bureaucracy in the process of granting concessions are the factors that limit the great mining potential in the region.
The mining sector in Central America represents great potential for investment and business, however, it has so far contributed only 0.75% to the Gross Domestic Product (GDP), averaged from the six countries in the region, between 2008 and 2012.
The government has announced that it will revise all contracts awarded and projects that are not being run will be reassigned.
State institutions responsible for granting operating licenses to mining, forestry, clean energy generation and hydrocarbon projects, have a deadline of two weeks to complete the collection of all permits, licenses and concessions granted in the past two governments and present a report to President Juan Orlando Hernandez, who will decide whether or not to revoke the licenses that have not been executed in order to reallocate the revoked contracts to new investors.
The Monte Redondo mine, which accounted for the highest level of exploitation of iron oxide in the country, has temporarily suspended sales abroad.
The company Five Star Mining, operator of the mine in Agalteca has suspended exports to China until September, in order to make improvements to the project and increase its international competitiveness, explained the Secretary of Environment and Mining, Carlos Pineda Fasquelle.
The attractiveness of the mineral resources in the country is overshadowed by legislation that raises doubts among international investors.
The validity of the Act on Promotion of the Development and Reconversion of Public Debt is raising doubts among international investors interested in mining in Honduras, according to Santos Gabino, advisor to the National Association of Metal Mining in Honduras.
español
7974
