Guatemala Approves Two Mining Licenses, Energy Ministry Says

Guatemala’s Energy and Mines Ministry awarded licenses to Compania Guatemalteca de Niquel, S.A. and Minera San Rafael S.A. to begin mineral extraction in Central America’s largest economy, the ministry said in a statement published on its website.

Minera San Rafael S.A., which will mine for gold, silver nickel and cobalt, forecasts annual production around $400 million. The Compania Guatemalteca de Niquel, S.A., which will mine for nickel, cobalt and iron, has invested $380 million in the project to date, according to the ministry.

Extraction will be controlled to two regions of Guatemala and will generate around 3,000 employees, the ministry said.

To contact the reporter on this story: Adam Williams in San Jose, Costa Rica at awilliams111@bloomberg.net.

To contact the editor responsible for this story: Andre Soliani at asoliani@bloomberg.net

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