Friday, March 14, 2014

Nicaraguan Mining Boom Continues, but Who Really Benefits?

(Subscription required to read full articles. Click here for subscription information)

Article from NotiCen, March 13

A leading Nicaraguan environmental group is sounding the alarm at President Daniel Ortega’s cozy embrace of metals mining, an industry that has boomed in recent years and now boasts the country’s number-one export product: gold. The sector enjoyed another banner year in 2013. Led by B2Gold, a Canadian firm, miners exported nearly US$436 million worth of gold, a new record, despite a substantial drop in the commodity’s selling price. The precious metal finished the year as Nicaragua’s leading export. And yet, for all its lustrous numbers, the resurgent industry's overall contribution to the econom is deceivingly small, and the pollution created by this economic activity is extracting a heavy toll on Nicaragua. Benjamin Witte-Lebhar Read More

No comments:

Post a Comment