The Nicaraguan delegation that attended the conference held in Toronto from March 4th to the 7th, was led by the country’s Chamber of Mines and included representatives of the Ministry of Energy and Mines (MEM, for its acronym in Spanish) and PRONicaragua, the official investment promotion agency. During the seminar, his Excellency Ambassador of Nicaragua in the U.S. Francisco Campell, gave his opening remarks and applauded the country’s effort in promoting its vibrant mining sector.
Furthermore, renowned mining companies such as B2Gold Corp., HEMCO, Condor Resources and Calibre Mining Corp. gave testimony of their successful operations in the country during the seminar. Furthermore, B2Gold and HEMCO announced that they will be expanding their investment projects in Nicaragua, demonstrating that the country offers the necessary conditions to foster the sector’s development.
Additionally, the country hosted a booth where participants were able to obtain information on the country’s mining sector. Through these efforts, the delegation was able to obtain approximately 50 quality contacts, with whom they will continue to maintain a close business relation for potential investments in the future.
Javier Chamorro Rubiales, Executive Director of PRONicaragua, highlighted that the right time to invest in this sector is now, firstly due to the country’s competitive advantages, which include abundant natural resources, a solid legal framework, government support, economic stability and preferential access to the world’s main markets and because of the favorable international prices of minerals.
Gold exports in Nicaragua reached a new record in 2011 with sales of over US$364.1 million, representing an astonishing 75 percent growth versus last year's exports. Silver exports also reached a new high in 2011 with US$9.4 million in sales, a 109 percent increase in comparison to 2010. The sector has also benefited the country by creating over 4,000 job opportunities.
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PRONicaragua is the Nicaraguan Investment Promotion Agency, established in 2002. It is a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The agency provides complimentary support services to qualified investors seeking investment opportunities in our country.