Honduras mining investment could hit US$2bn in 2015 - institute

Mining companies will invest about US$2.00bn in Honduras in 2015, according to Agapito Rodríguez, director of the country's mining institute (Inhgeomin).

While about 500 applications for mining concessions in the country are pending, 31 have been approved, Rodríguez was quoted as saying by local news website La Prensa.

Investment by the 31 companies, funded by a mix of national and foreign capital, is expected to generate about 20,000 new jobs in metallic and non-metallic mining projects, he added.

"In 2014, we have laid the foundations and freed up a little more than 250,000ha with the objective of attracting fresh investment, which we estimate could be around US$2.00bn," Rodríguez said.

The government reportedly canceled 236 mining concessions in 2014 because of a lack of progress. Mining exports were worth US$24.4mn in September, or 8.6% of Honduras' total exports of US$285mn, the central bank said in December.

Companies with mining properties in Honduras include Belgium-based Nyrstar, which has the El Mochito zinc-lead-silver mine, and Vancouver-based Aura Minerals, which has the San Andrés gold mine.