Invest in Guatemala provides useful resourses for investing in the mining sector
According to InvestInGuatemala, mining is the industry sector that attracts most foreign direct investment into Guatemala. The largest mining projects (Escobal, Cerro Blanco, FeNix, Mayaníquel, Montufar, and San Juan Sacatepéquez) are expected to attract US$3.8 billion for the 2013-2015 period, according to a study by the Ministry of Energy and Mines and Invest in Guatemala.
This sector has enormous potential. The deposits of ores like nickel, gold, and other minerals in Guatemala are among the biggest in Latin America. Total production in the mining sector in 2011 was US$934 million. Exports were US$613 million. Between 2004 and 2011, this sector grew by 10,000%.
The key factors of the attractiveness of this sector are (i) the stable legal framework, focused on establishing dynamism and competitiveness in the market, (ii) the increasing demand and prices of minerals in the main world markets, and (iii) the strategic geographical location which allows for exports through the Pacific and Atlantic oceans.
Currently, there are 97 exploration and 285 exploitation licenses approved by the Ministry of Energy and Mines. An additional 493 exploration and 156 exploitation license are in the approval process.
For more information about the licensing process, the main firms invested in the sector, what minerals are located in different regions of the country, and more, please click here.