Nicaragua has moderately sized gold and silver deposits.
are estimated at 3.8 and 4.9 million ounces of gold and silver,
respectively. All natural resources are on state property and exploitation
rights are leased. Investment potential is limited because huge portions of the central
areas of Nicaragua where the reserves are have already been leased. Nicaragua is also known
to contain: copper, zinc, platinum, iron, magnesium, chrome, titanium, tungsten, lead,
cadmium, bismuth, bentonite, marble, clay, masonry stone, limestone and gypsum. The actual amount
of foreign investment in the industry and the amount of minerals which were mined increased
last year, but due to the fall in gold prices, which is the mainstay of the industry, two
companies have left Nicaragua and the value of the exports plummetted below last year's value.
|Many miners were left unemployed when two firms pulled out. Source: Library of Congress (Public Domain)|
Because of the aforementioned lack of available land, the low prices of gold, and the high
overhead involved in beginning a new mine, new interest in the sector is unlikedly. However,
the enterprises which are already established should do well and they will likely pour more
money into the operation.