Work on gold mine in Nicaragua halted after financing failsWednesday, October 22, 2008 Central Sun Mining has stopped work on its Orosi gold mine in Nicaragua after the fail of $22 million in financing. Central Sun, already operating the Limon gold mine in Nicaragua, had earlier entered into a non-binding term sheet with the bank for $22.5 million to complete the Orosi project, on which it has spent $31 million to date and which was expected to be competed next spring. Change in Ownership at Honduran Gold MineWednesday, June 10, 2009 The Canadaian miner, Yamana Gold, announced a sale agreement with the Canadian Aura Minerals for the San Andrés gold mine. The agreement for a total of $200 million includes the sale of two other mines in Brazil to Aura Minerals. La Libertad Gold Mine Reopens in NicaraguaTuesday, May 11, 2010 Canadian corporation B2Gold invested $54 million to reopen the gold mine located in the province of Chontales. B2Gold plans to extract 90.000 gold ounces a year, generating exports for approximately $85 million. New Honduran Mine Begins to Export Iron OxideFriday, September 27, 2013 The El Venado Mine has shipped its first cargo of iron oxide, more than 40 thousand tons, bound for China. According to Henrique Ayala, manager of the consortium that runs the mine, this will be the first of many shipments which will be sent over the 20 year life of the mine. Gold Production Up 20% in NicaraguaWednesday, January 8, 2014 According to the vice president of the Chamber of Mines of Nicaragua, Denis Lanzas, gold became the main export of the Central American country, recording sales of $435.8 million. This product shifted beef from the first place position, which reported revenue of $389.1 million and gold coffee which earned $349 million in exports. Guatemala Plans to Raise Mining Royalties to 5%Wednesday, April 2, 2014 The Guild of Extractive Industries would accept the increased royalties as agreed at the start of the Pérez Molina administration. An article in Prensalibre.com reports that Mario Orellana, president of the Union of Extractive Industries, said "... The initiative proposed by the Ministry of Energy and Mines (MEM) is embodied in the agreement that we voluntarily accepted at the start of this government. Panama Could Cancel Molejón Mining ConcessionThursday, July 23, 2015 Although the concessionaire Petaquilla Minerals says it is complying with the requirements of the government, the possibility of canceling the concession is being studied. The 180 day period which the Ministry of Trade and Industry (Mici) awarded in January to the conessionarie Petaquilla Minerals to resolve its financial problems has come to an end, and the government could revoke the concession granted in 1997. Honduras: Investment in Mining Industry GrowingThursday, January 30, 2014 The growth of the metal mining sector and the framework provided by a new mining law have generated interest from foreign companies. Up until October 2013, the share of mineral products in exports of general merchandise was $232.7 million, equivalent to 7%. This, and the adoption of a new mining law last year, has attracted interest from foreign investors who have set their eyes on Honduras. Molejón Mine: 7.200 Ounces of Gold Per MonthFriday, May 13, 2011 Petaquilla Minerals, which owns the Molejón mine in Panama, has announced the expansion of its production system. The improvements include setting up a stacked lixiviation system and are expected to generate an increase in gold recovery of 7,200 ounces of gold per month. Petaquilla Mine to Sell $45 Million Worth of Gold FuturesFriday, September 24, 2010 The mining project located in Panama has agreed the sale to Germany's Deustche Bank of 66,650 ounces of gold over the next five years. Petaquilla has announced that its production commitments with Deustche Bank represent only 6% of the projects total resources. Panamanian Mining Code Changes in 2011Wednesday, November 24, 2010 The National Assembly will endorse the new code in 2011. The mining code changes have already been approved by the cabinet last October. 456 Thousand Gold Tons in Guatemala?Friday, June 4, 2010 Canadian mining corporation Radius calculated how much gold it could extract from its “Tambor” project, in San Pedro Ayampuc. According to Lorena Álvarez, the figure was included in an environmental impact study presented by “Exploraciones Mineras de Guatemala” (Exmingua), a subsidiary of Radius Exploration Ltd. Costa Rica: Court Sustains Measures Against Crucitas Gold MineWednesday, June 16, 2010 An appeals court maintained a series of precautionary measures hampering the development of Crucitas gold mine, owned by Infinito Gold. The court’s decision was based on a “in dubio pro natura” principle, which implies prevention and precaution in favor of natural resources. The measures against the company will remain in place until a final ruling is issued. Mining Lawsuit Against El Salvador DismissedWednesday, March 16, 2011 The International Center for Settlement of Investment Disputes dismissed a lawsuit filed by Commerce Group. The lawsuit filed under CAFTA terms alleged that the Government, in 2006, without justification, revoked permits which had been awarded for the exploitation of mines in San Cristobal and San Sebastian and that a request made in 2008 to extend operating licenses at the San Sebastian and Nueva Esparta mines was denied. Estimated Production of Cobre Panama Raised by 20%Tuesday, January 28, 2014 First Quantum has announced that the copper mine will produce 20% more than originally estimated, but the start of operations will be delayed until 2017. The delay in the start of operations of the Cobre Panama mine, purchased by the Canadian company First Quantum last year, will mean higher costs. |
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