Mining & Geology
in Central America
Tuesday, May 22, 2012
After closing the bond issuance with $1,500 million, Inmet Mining has announced that it has funding of $ 6,200 million available, the amount that the mine in Donoso, Panama will cost.
The board of Inmet Mining, parent company of Minera Panama, has given permission for the construction of a copper mine in Donoso, Colon province.
Monday, May 21, 2012
Despite the enormous potential in gold, nickel, tin and other light metals, the mining sector is not consolidated due to lack of strategic planning and public policies.
A study by the Fraser Institute puts Guatemala in position 74 out of 79 countries evaluated according to the favorability, or not, of the environment for mining. It is a very low position which suggests that it has unattractive conditions for investment.
Thursday, May 10, 2012
Based on the country's prospected oil potential, Ivanhoe Energy and Cobán Oil & Gas are proposing to invest $250 million.
Both companies signed a letter of intent for joint investments of $250 million and reported that they expect to finish the process in 30 months, sign an investment agreement, and then start building the plant.
Thursday, May 10, 2012
Petaquilla Gold plans to increase its extraction of gold this year at its mines in Panama from 6,000 to 8,000 ounces.
The president of the multinational mining company Petaquilla Gold, Rodrigo Esquivel, presented these forecasts for the year 2012.
Wednesday, May 9, 2012
A new prosperity acquired by Nicaragua's economy, especially in infrastructure, is being reflected in extractive activities related to construction.
The boom experienced by the construction sector has led to the extraction of materials such as crushed stone, sand and other things for the manufacture of blocks, pavements, cement and other products required by public and private works.
Tuesday, May 8, 2012
The Canadian owned mining company owner is not looking for more equity partners, but will instead fund development of the mine by issuing bonds.
The reduction of risks to the project has enabled it to seek finance by issuance of debt, whose principal will mature in 2020.
Friday, May 4, 2012
Tahoe Resources, the Canadian company which bought the project from Goldcorp, has announced an investment of $500 million to extract the 300 million ounces estimated at the site.
Tahoe Resources executives are only waiting for the Ministry of Energy and Mines (MEM) to authorize the operating license of the mineral project Escobal, in San Rafael Las Flores, Santa Rosa, in order to accelerate construction of a plant.
Friday, May 4, 2012
The change of government in Guatemala has delayed the ratification of a contract awarded to City Petén for oil drilling in an area with 140 million barrels.
On October 31st, 2011, at the end of the Colon administration, the Ministry of Energy and Mines signed a concession contract to exploit oil in the Yalcanix (PTN 1-2008) area with the Guatemalan company City Petén after a tender in which only two other companies, Perenco Guatemala and the aforementioned City Petén participated. The offer from Perenco was $11 million and City Petén’s was $30 million. Both companies have experience in oil exploration in the country.
Tuesday, April 24, 2012
The lack of political stability and a clear tax system, make Guatemala unattractive for investment in metal extraction, compared with countries like Chile and Brazil.
A study by Central American Business Intelligence (Cabi) puts the Central American country at a disadvantage when compared with Chile, Brazil, Peru and Mexico in the exploitation of metals.
Wednesday, April 11, 2012
Following the lifting of a moratorium on exploration and mining licenses, the Ministry of Environment and Natural Resources has announced a review of all environmental impact studies.
The Ministry of Environment and Natural Resources (MARN) analyzed 354 environmental impact studies, whose licenses were suspended after finding that there were shortcomings.
Tuesday, April 10, 2012
The Canadian mining company buys 40% of shares from joint venture partner Radius Inc. for $20,08 million, and takes total control of Trebol and El Pavon gold mining sites in Nicaragua.
B2Gold Corp. and Radius Gold Inc. announced on April 9 the signing of a binding letter agreement pursuant to which B2Gold has agreed, among other things, to acquire a 100% interest in the Trebol and El Pavon gold properties in Nicaragua in consideration of C$20 million, payable in common shares of B2Gold at a price per share equal to the volume weighted average price of B2Gold’s common shares on the Toronto Stock Exchange (“TSX”) for the ten trading days immediately preceding the date of the letter agreement.
Monday, April 9, 2012
At the start of every new government there is an attempt made to attract investors for new drilling and explorations, without results to date.
Despite the efforts of recent governments, in the last decade, domestic production of crude oil has fallen by 55%, going from 24, 671 barrels in the first two months of 2002 to 10,899 barrels in the same period this year.
Tuesday, April 3, 2012
The mining company Hemco is diversifying its activities and investing $138 million in hydropower, forestry and call centers in Bonanza on the Nicaraguan Atlantic.
Hemco Nicaragua SA is a good example of how private initiatives can contribute to the social and economic development of a country with its increase in investment following a strategy of diversification.
Tuesday, April 3, 2012
An estimated $3 billion is lost by the country annually due to lack of a legal framework to provide security for mining investments.
Honduras exported $300 million a year in the business of mining through 3 companies that continue to operate after the withdrawal of 6 other companies due to the absence of an appropriate regulatory framework, said the president of the National Association of Mineworkers (Anamin), Santos Gabino Carbajal.
Tuesday, March 27, 2012
The Presidential Commission for Integral Development is analyzing the establishment of a framework covering all aspects of the use of natural resources.
This initiative emphasizes two main areas of interest, which are the rural economy and private investment in rural areas, explained the Guatemalan President Otto Perez Molina.
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