Condor Gold Granted Permit to Build Nicaragua Gold Mine

SEATTLE (Scrap Monster): Condor Gold-the British mining major received environmental permit for the development of a processing plant and associated infrastructure at its La India mine in Western Nicaragua. The plant will have a processing capacity of up to 2,800 tonnes per day.

According to Mark Child, Chairperson and CEO, Condor Gold, the company will now progress the redesigned site infrastructure to a bankable feasible study (BFS), in order to be submitted to investors to seek financing of the project. Upon completion of BFS and further to financing approvals, the construction is expected to commence within 18 months of the grant of permit. The construction itself is expected to extend for up to 24 months. Prior to commencement of construction activities, Condor Gold is supposed to submit final engineered designs for various key mine components including the tailings storage facility.

The media statement released by Condor Gold noted that the receipt of the environmental permit is attributable to hard work and dedication of its employees, in the midst of political uncertainties existing in the country. It took around three years for the permitting process. The new gold mine is expected to create approximately 1,000 jobs in the mine and additional three to five indirect jobs in support services for every job, it said.

Incidentally, La India open pit mine, with a production capacity of nearly 80,000 oz gold per annum, enjoys proximity to former mining community.