Guatemala mulls 25% mining royalty

Bnamericas Published: Friday, August 12, 2016
Guatemala mulls 25% mining royalty

Miners in Guatemala will pay up to 25% in royalties under new proposals.

Congressman Juan Ramón Lau Quan of the centrist Todos party announced plans to reform the country's mining code.

Under the proposals, royalties will be increased to 25% for miners of gold, silver, platinum and radioactive materials.

Other miners producing metals such as iron ore, nickel, copper, lead and zinc will pay 15% with non-metallic miners paying 10%.

Miners in the country currently pay a mandatory rate of 1% of revenues, with companies including Tahoe Resources paying an additional voluntary royalty of 4%.

A 10% mining royalty imposed in 2014 was annulled last year by Guatemala's constitutional court.


The proposed reforms also include the creation of a mining fund to distribute money raised by the royalties, including in community development projects in mining areas.

Mining companies would also be required to conduct consultations regarding mining projects with indigenous communities.

The proposals will be examined by congress before being sent for analysis by the relevant commission.

Goldcorp also has the Marlin gold mine in Guatemala, while Solway Investment Group has the Fénix nickel operation.

Pictured: Tahoe Resources' Escobal silver-lead-zinc mine.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Mining & Metals (Guatemala)

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Mayaníquel
  • Current stage: Blurred
  • Updated: 11 months ago
  • Project: Tambor
  • Current stage: Blurred
  • Updated: 4 years ago
  • Project: Escobal
  • Current stage: Blurred
  • Updated: 4 years ago
  • Project: Fenix
  • Current stage: Blurred
  • Updated: 5 years ago
  • Project: Torlon Hill
  • Current stage: Blurred
  • Updated: 5 years ago

Other companies in: Mining & Metals

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Nexxo S.A.
  • Established in 1980, Nexxo S.A. is a industrial solutions company which offers services including chemical cleaning and flushing, maintenance of equipment and decoking. In 2013,...
  • Company: Cerro Vanguardia S.A.  (CVSA)
  • The mining company Cerro Vanguardia, S.A. (CVSA), based in Argentina, is engaged in the exploration, mining and processing of gold and silver in the mining concession Cerro Vang...
  • Company: Wealth Minerals Ltd.  (Wealth Minerals)
  • Wealth Minerals Ltd. is a Canadian mining company engaged in the exploration and development of exploration and evaluation assets in Argentina, Mexico and Peru. The company's fl...
  • Company: Minera Salar Blanco S.A.  (MSB)
  • Minera Salar Blanco S.A. (MSB) is a Chilean JV established in 2016 to explore and develop the Maricunga lithium project, in Chile's northern Atacama region. The company is owned...
  • Company: Posco Argentina S.A.U.  (Posco Argentina)
  • Posco Argentina, a local subsidiary of the global steel producer based in the Republic of Korea, owns the comprehensive lithium project Sal de Oro, located in the Salar del Muer...