Nicaragua at the largest mining event

MANAGUA, Nicaragua - Feb. 27, 2014 - PRLog -- Nicaragua is ready for the 2014 Prospectors and Developers Association of Canada (PDAC) Convention, the world’s leading mining event, during which a Nicaraguan delegation will be attending to showcase the country’s successful development and investment opportunities in the mining sector. The event, held at the Metro Toronto Convention Center in Canada, will begin this Sunday, March 2nd and will end on March 5th. The country will host a booth (#1604), which will provide attendees the opportunity to obtain information on the country’s main mining concessions and further business opportunities in the sector.

Nicaragua’s delegation will include the General Director of Mining at the Ministry of Energy and Mines, Carlos Zarruk, the Vice President of the Nicaraguan Chamber of Mines, Denis Lanzas, and representatives from PRONicaragua, the official investment and export promotion agency of the country. Additionally, successful companies developing projects in the country such as B2Gold, Condor Gold, Golden Reign Resources and Canchi Perforaciones, will also participate at the event.

“The Government of Nicaragua has a solid and fair mining law. It provides concession areas for 25 years, which provides certainty for large capital investments,” stated Mark Child, CEO of Condor Gold. He added that, “the Ministry of Mines is accessible and actively encourages investment and expertise from overseas by allowing to raise money from the London Stock Market to fund exploration in Nicaragua, where the company has 1.7 million ounces gold resource at 5.2g/t.”

The mining sector has become one of the country’s most important exporters throughout the years. According to the Central Bank of Nicaragua (BCN, for its acronym in Spanish), gold represented the country’s main export product reaching US$435.9 million in 2013, a three percent increase in comparison to the US$422.8 exported in 2012. Furthermore, in 2013 the country’s gold production increased by 38 percent, reaching 309,960 troy ounces.

The PDAC is a national association that represents Canada’s mineral exploration and development industry with 10,254 individual corporate members. Its objective is to promote a responsible, vibrant and sustainable Canadian mineral exploration and development sector and it also encourages leading practices in technical, environmental, safety and social performance in Canada and internationally. In 2012, the event attracted 30,369 participants from 125 countries.

For more information on Nicaragua’s participation in the 2014 PDAC, visit www.nicaragua-pdac.org.