Nicaragua Mining Companies Increase Investment

TODAY NICARAGUA – The concessionaire B2Gold expects to invest $44 million this year in the La Libertad, Santo Domingo and El Limón mines, while HEMCO SA plans to spend $14 million on the operation of the Bonanza mine.

During the period 2013-2014 B2Gold extracted 197,808 ounces from El Limon and La Libertad mines, while HEMCO achieved a total production of 113,770 ounces. It is expected that the investments from both companies will reache $55 million, to be allocated, in both cases, towards increasing production capacity in order to supercede figures reported in 2014.

Julio Quintero, president of HEMCO SA, told that “…For 2015 we plan to invest $14 million, which will allow us to produce 15% more than in 2014. This capital injection will mean a higher tax contribution and contribution to the economy, with special emphasis on economic and social development of Bonanza, in the Autonomous Region of the North Caribbean where the company operates. ”

For his part, Pablo Venturo, country manager of B2Gold Nicaragua, added “… In 2015 alone the company will invest $44.1 million in support of operations in La Libertad, Santo Domingo and El Limón, which involves the completion of development projects for mines, expansion of the tailings dam and the purchase of equipment. ”