The gold rush in Nicaraguaon May 7, 2012 at 14:13
The gold rush in Nicaragua is picking up steam, especially considering that pro-mining President Daniel Ortega was last year given the green light for another term in office. Nicaragua is attracting gold investors and/or gold mining companies like bees to a honey comb, despite the fact that there has initially been a slow start to the latest gold rush in Nicaragua.
Many gold investors might not be familiar with Nicaragua or might have never heard of it, but Nicaragua or rather the Republic of Nicaragua “…is the largest country in the Central American isthmus, bordered by Honduras to the north and Costa Rica to the south” (Wikipedia). It declared independence on 15 September 1821, but was only officially recognized on 25 July 1850. It boasts a population just short of 6 million, covers a total area of 130 373 square kilometres and the people drive on the right hand side of the roads. This is interesting, but what is really interesting and remarkable to say the least, is that despite the fact that Nicaragua stretches along the Central American Gold Belt, a substantial portion of it still needs to be explored. Now given the fact that gold has truly started to shine over the last couple of years in terms of price, despite rampant downward manipulation via paper, it is something that has led to an increased interest in gold exploration and production in many countries. It is therefore not surprising that gold investors and/or gold mining companies alike are starting to show interest in Nicaragua as well, although late in the game. For those of you who are not familiar with the Central American Gold Belt, the belt that stretches from Costa Rica to Guatemala, it “…has historically accounted for over 20 million ounces of gold production” (Nicaragua Feels the Gold Rush, Wealth Wire, 1 May 2012). Thus, although late in the game, it is welcoming to see that gold investors and/or gold mining companies are starting to show some serious interest in Nicaragua. In fact, exploration has picked up considerably within the three primary project areas, namely Chontales, León and Nueva Segovia. More than one gold mining company are busy with exploration in the given areas, have completed drilling programs and/or starting new drilling programs. It will be interesting to see how much gold the underlying gold mining companies are hoping to produce once the test results come in, but if history will repeat itself, we’re looking forward to read news reports that will read along these lines: “Exceedingly rich gold mines have lately been discovered in the department of Chontales in this State, and great numbers of persons have gone thither. During the past week, in this state alone, over six hundred ounces have been sold. It is calculated that the mines are very extensive, reaching through the entire mountain range of Chontales and Legonia. The gold is, on an average, from 16 to 18 carats fire” (IMPORTANT FROM NICARAGUA; Discovery of Rich Gold Mines Expected Emigration from California Free Colored Emigration to the Mosquito Coast, New York Times Archive, 27 March 1861).
Gold Investment welcomes the renewed interest that is shown in Nicaragua’s gold mining industry. It will surely be interesting to see how much gold will be discovered in the previously untouched areas.