Managua, Nicaragua; November 03, 2016
Gen. Álvaro Baltodano, Minister-Presidential Delegate for Investments, was the leading official inaugurating “Plantel Los Ángeles” this morning, a mining project located in La Libertad, department of Chontales (central Nicaragua). This project is the result of the group’s interest in promoting the mining sector’s development and sustainability within the region. The investment of this project amounts to US$6.5 million and has an installed capacity of 150 tons of gold per day, for an annual production of 11,100 troy ounces.
The plant will allow greater recovery of gold, fair payment per ounce to 1,500 artisanal miners and lower environmental impact, key pillars of the “Mining for All” model, under which this investment is promoted. Randy Martin, president of Plantel Los Angeles said, that “Nicaragua is a safe destination for investments and a country that offers many opportunities and favorable conditions to invest in projects like this, which will result in the benefit of an important sector for the country, such as artisanal mining. With this investment we all win,” he added.
“This project injects around US$600 thousand a month to the local economy and generates over 80 jobs,” said Alvaro Peralta, general manager of Plantel Los Ángeles. Peralta underscored that “the opening of this project ushers the mining for all model into all these communities, which is a sustainable process that ensures stability in the sector… being the main interest of this model to transform this practice to a formal and sustainable activity that generates wealth to the municipality and the country.”
Sergio Ríos, president of the Nicaraguan Mining Chamber (CAMINIC, for its acronym in Spanish), said that through this project, the use of mercury in the processing of 55 thousand tons of gold per year will be removed, which in turn will prevent pollution of the local environment.
Currently, Nicaragua has over 12,000 artisanal miners. These represent 40 percent of the economically active population (EAP) in the municipalities of La Libertad and Santo Domingo.
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