Guatemala’s first modern gold mine on way


Guatemala is allowing construction of its first modern-day gold mine, a move that government officials hope—and environmentalists fear—will help make this country a magnet for foreign mining investment. After more than five years of exploration here, Montana Exploradora, a subsidiary of Canadian-owned Glamis Gold, won approval last month to extract gold and silver in the Marlin Mine in the western highlands province of San Marcos. The company will spend this year building infrastructure for the US$150 million project’s combination open-pit and underground mine. From 2005 to 2015, it plans to extract three million ounces of gold. “Guatemala always has been a country with gold- and silver-mining options, but it hadn’t been developed in the past because laws didn’t... [Log in to read more]

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