Home » Calibre Mining Secures Approval for Gold Deposit Development Near Libertad Mill

Calibre Mining Secures Approval for Gold Deposit Development Near Libertad Mill

Boosting Production and Economic Growth in Nicaragua

by Motoni Olodun

Calibre Mining has received the green light from Nicaraguan authorities to develop a new gold deposit near its Libertad Mill. This significant milestone marks a step forward in Calibre’s expansion plans in the region, aimed at increasing production and boosting economic growth.

The new deposit, named Pavon Central, is strategically located close to the Libertad Mill, which will facilitate efficient ore processing and cost-effective operations. According to Calibre’s CEO, Darren Hall, the approval is a testament to the company’s commitment to sustainable and responsible mining practices in Nicaragua.

“This approval allows us to enhance our production capabilities while adhering to high environmental and social standards. We are dedicated to contributing positively to the local economy and community,” Hall stated.

Pavon Central is expected to significantly augment Calibre’s gold output. Initial projections estimate that the deposit could add between 80,000 to 100,000 ounces of gold annually, starting from late 2024. This boost in production will support Calibre’s goal of achieving annual output of over 250,000 ounces.

The development of Pavon Central will include constructing access roads, mining infrastructure, and a processing facility. Calibre plans to employ local workers and engage with community stakeholders to ensure that the project benefits the surrounding areas. The company has committed to implementing rigorous environmental protection measures, including water management systems and habitat conservation efforts.

The approval process involved comprehensive environmental and social impact assessments, which Calibre successfully completed. The Nicaraguan Ministry of the Environment and Natural Resources (MARENA) praised the company’s thorough and transparent approach. “Calibre Mining has demonstrated a clear commitment to sustainable development, aligning with our national objectives for environmental stewardship and economic progress,” said a MARENA representative.

Nicaragua’s mining sector plays a crucial role in the country’s economy, providing jobs and generating significant revenue. The government’s support for responsible mining projects like Pavon Central is part of its broader strategy to attract foreign investment and promote sustainable development.

Local communities have shown mixed reactions to the project. While some residents are optimistic about the job opportunities and economic benefits, others express concerns about potential environmental impacts. Calibre has pledged to maintain open communication with all stakeholders and address any issues promptly. Regular community meetings and transparent reporting will be part of their strategy to build trust and ensure mutual benefits.

The global demand for gold remains strong, driven by economic uncertainties and investment interests. Calibre Mining’s expansion in Nicaragua positions the company to capitalize on this demand, enhancing its market presence and financial performance.

This approval is not just a win for Calibre but also a positive signal to other investors considering opportunities in Nicaragua’s mining sector. It showcases the country’s commitment to fostering a business-friendly environment while prioritizing sustainable and responsible mining practices.

Calibre’s success in securing the approval for Pavon Central underscores its strategic vision and operational excellence. As the company moves forward with developing the new deposit, it sets a precedent for future projects, balancing economic growth with environmental and social responsibility.

The development of Pavon Central is expected to contribute significantly to Nicaragua’s economy, providing jobs, infrastructure, and increased revenues. This project exemplifies how mining companies can operate responsibly, benefiting both the industry and local communities.

Source of this article: mining.com

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