(posted March 1, 6:00 a.m.)- Nicaragua is sending its big guns to Toronto this week to sell the country as a lucrative investment for foreign mining companies during the annual tradeshow of the Prospectors & Developers Association of Canada (PDAC).
Nicaragua will be represented at the show by retired Gen. Alvaro Baltodano, presidential delegate for investment, Nicaraguan Ambassador Francisco Campbell, Carlos Zarruck, Nicaragua’s director general of mines, and Sergio Ríos, president of the Nicaraguan mining chamber.
Next Tuesday, Nicaragua will offer a seminar unimaginatively titled “Nicaragua: Discover the Opportunities in Mining.” The presentation will showcase the Sandinista government’s “pro-mining policies” and feature testimonials from other Canadian companies— B2Gold, HEMCO, Condor Gold Plc., Calibre Mining, Alder Resources, Corazón Gold and Golden Reign Resources—currently operating in Nicaragua.
“As investors, we have access to the government and decision-makers, the rules are clear, there is a pro-mining attitude, the labor force is excellent and, above all, there are numerous opportunities,” said Randy Martin, founder of Hemco, in his testimonial used by the government.
More than 100 representatives of mining companies are expected to attend Nicaragua’s presentation, according to a release from investment-promotion agency ProNicaragua.
Gold is one of Nicaragua’s fasting growing and leading imports. In 2012, Nicaragua exported $422 million with of gold, surpassing beef as the country’s No. 2 export behind coffee. Nicaragua’s gold exports climbed 16% last year.
So far this year, gold is Nicaragua’s leading export, netting more than $40.5 million in sales in January alone, according to government figures.