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.
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