Mining & Geology
in Central America
Tuesday, January 31, 2012
Nicaragua's mining industry aims to grow by 15% in 2012, totaling $418.6 million in sales, $54 million more than last year thanks to rising global prices.
The gold mining industry in Nicaragua plans to increase production by 15% and get annual revenues of $418.6 million in 2012, said Karla Guerrero, executive director of the Nicaraguan Chamber of Mines.
Tuesday, January 31, 2012
The Assembly of Panama has approved, in its first reading, Bill 415 on environmental protection, without the article which eliminates existing mining concessions.
Panama's National Assembly approved on first reading Bill 415 which is related to the special protection of water, environmental and mineral resources in Cerro Colorado, with the omission of Article 5, which would have eliminated existing mining concessions and forced the companies operating there to suspend work.
Friday, January 27, 2012
Government officials from both countries will sign a cooperation agreement on mining.
Honduras and Chile are to sign a technical cooperation agreement on mining, said the Deputy Minister of Mines of Chile Paul Wagman in an interview with La Tribuna.
Friday, January 27, 2012
The agreement signed by 22 companies in the extractive industry will mean an increase in annual revenues from mining royalties of about $64 million.
Having previously paid 1% in royalties, gold and silver mining companies will pay the Guatemalan state a rate of 4%, said the President Otto Perez Molina.
Thursday, January 26, 2012
The U.S. company plans to build a refinery for $600 million in Acajutla which will process up to 40 thousand barrels of oil.
Petrogolfo, a U.S. company in the energy sector, plans to relocate a center in Texas and open a $600 million refinery that will process from 30 thousand to 40 thousand barrels of oil a day, and has already signed a memorandum of understanding with the Mayor of the City of Acajutla, El Salvador.
Wednesday, January 25, 2012
The establishment of the royalties paid by mining companies will not be subject to law, but the product of voluntary agreements between the government of Guatemala and those companies.
After negotiations with the industry, officials from the Ministry of Energy and Mines signed agreements with mining companies to increase royalty payments.
Tuesday, January 24, 2012
An increase from 5% in Nicaragua’s GDP in in 2011 was driven by vigorous growth in the mining sector - which is dominated by gold -, of 30% over the year according to an independent report.
The 5% growth of GDP in Nicaragua in 2011 was stimulated by the portentous growth of the mining sector, at nearly 30% a year, of which the extraction of gold stands out the most, said a report by the Nicaraguan Foundation for Social and Economic Development (FUNIDES).
Thursday, January 19, 2012
The government has denied a Canadian company a license.
The Costa Rican authorities in the mining sector have declined the request to reopen the Bellavista gold mine by the Canadian company B2 Gold, arguing that the act would be contrary to the national moratorium on mining.
Tuesday, January 17, 2012
The Ministry of Energy and Mines of Guatemala has authorized the General Fuel Company to transfer a contract to Ceiba Petroleum.
The transfer is of 90% of the rights and obligations of the Contract for Production Sharing Number 4-93.
Monday, January 16, 2012
The future area of operations has been declared a protected area and the Panamanian authorities have imposed new requirements.
Inmet Mining Corporation, owner of Minera Panama, will have to meet new requirements in order to start building a copper mine in Donoso, Colon province, reported the National Environmental Authority (ANAM), as revealed by the Prensa Latina news agency.
Friday, January 13, 2012
While waiting for the new mining law, the future Minister of Energy and Mines is negotiating a increase in payments to the State, which currently stand at 1%.
Erick Archila, the newly appointed Minister of Energy and Mines of the government of President-elect, Otto Perez Molina, who will take office on January 14, said that they are holding meetings with various sectors, including the Extractive Industries' Guild, with whom they will negotiate the royalties.
Wednesday, January 11, 2012
The Supreme Court has admitted an appeal against a government decree that prevented oil exploitation concessions for 3 years; Mallon Oil may be able to force the government to sign the contract.
The Sala IV, Costa Rica’s Supreme Court, suspended president Laura Chinchilla’s decree, which prevented the exploitation of hydrocarbons and the granting of permits for three years, until a constitutional complaint made by the Association of Geologists is resolved.
Tuesday, January 10, 2012
Inmet Mining Corp. has announced the sale of 20% of its copper mining project in Panama for $155 million.
The buyer is Korea Panama Mining Corporation (KPMC), a holding company owned by the South Korean KS-Nikko Copper and the state run South Korean company Korean Resources Corporation.
Friday, January 6, 2012
A consortium made up of the state company Kores and LS-Nikko Cobre Inc. has announced the start of the operations in the Cobre Panama mining project in the first half of the year.
The announcement by state-run Korea Resources Corporation comes a few days after the approval by Panama’s National Environmental Authority, of the development plans for the mines in the Cobre Panama project.
Tuesday, January 3, 2012
The approval of the Environmental and Social Impact study is an important step that enables the entry of other investors into the project.
Inmet Mining Corporation announced that the National Environmental Authority of Panama (ANAM in Spanish) approved on December 28, 2011, a Study for Environmental and Social Impact Assessment (ESIA) necessary for the development of the copper mining project ‘Cobre Panama’, which includies mining operations and connected infrastructure, a port facility and a coal-fired power plant.
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