Metals Exploration plc has started constructing infrastructure, marked by an official opening ceremony, at the La India gold project in Nicaragua.
ECONOMY
The project hosts the historic La India gold mine which produced between 1938 and 1956, mainly while owned by Canadian miner Noranda Inc.
Condor Gold plc, acquired by Metals, began exploratory work in Nicaragua during 2006.
La India today has reserves of approximately 2.2 million ounces of gold with an initial annual production target of 145,000 ounces of gold.
During the construction phase, the project will employ more than 1,600 people and, once in operation, generate in excess of 1,000 local jobs.
Production is expected to begin during December 2026.
Special guests at the opening ceremony included Metals’ executives, local employees, leaders of the mining and economic sectors in Nicaragua, and representation of the municipal mayors of Santa Rosa del Peñón and El Jicaral in the department of León.
Chief executive Darren Bowden said that Metals was committed to sustainable development, ensuring long-term environmental, social and economic value for nearby communities and the country.
La India also aims to “provide a positive point of reference for the future of mining in Nicaragua and the Central American region”.
“We are proud to be delivering this important project, which will have a highly positive impact on the development and economic growth of the surrounding communities, and for the entire Nicaraguan nation,” he added.
Country manager, Aiser Sarria said that more than US$40 million had to date been invested in environmental and geological studies, exploration work and social, environmental and economic programmes for communities surrounding La India.
He also highlighted the community training programme, started in June 2021, which promotes young professionals to participate in the project.
Mr Sarria added that La India complies with plans authorised by government agencies and national and international standards including those relating to human rights and safety.