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Mining industry growing,.

MINING INDUSTRY GROWING, The growth of the metal mining sector in Honduras and the framework provided by a new mining law have generated interest from foreign companies, reports Laprensa (Jan. 30, 2014). 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:

"Many of the companies are interested in extracting gold and silver," said David Alcantara, Head of the Unit for Environment and Security at the Honduran Institute of Geology and Mines (Inhgeomin). This year the opening of 10 metal mining companies is being considered, say representatives from the National Association of Metal Mining in Honduras (Anamimh);

In addition, there are at least 950 research sites across the country used to determine the feasibility of opening new fields. "There are many applications for exploitation of iron oxide which had been halted, but they are currently being processed. Some concessions were awarded which are on hold, some larger than they there had been in the area of non-metals," said Santos Gabino Carvajal, an assessor at Anamimh.

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Title Annotation:HONDURAS
Publication:Caribbean Update
Article Type:Brief article
Geographic Code:2HOND
Date:Mar 1, 2014
Words:200
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