How valuable does an asset need to be to receive investment, in spite of legal troubles and local opposition? This is the challenge facing Guatemalan mining at the moment, with the country reportedly holding seven tonnes of gold, but minimal production as US firm Kappes, Cassiday & Associates faces obstacles ahead of beginning production at its Tambor project.
The impasse has been in place for seven years, since a local court suspended future decisions at the mine due to a lack of consultation with local people. Yet the miners remain undeterred, and have lodged a $400m lawsuit with the World Bank’s International Centre for Settlement of Investment Disputes, and hope that the body will rule in favour of its right to develop the deposit. The case stands as a typical example of international mining interest coming into conflict with the wishes of local people, and the ultimate decision could set a precedent for both mining in Guatemala and similar standoffs around the world.
Go deeper with GlobalData
Elsewhere, we consider how the ground-breaking Inflation Reduction Act passed in the US could affect the world’s mining industry, and look at how Amaroq and ABD have adapted autonomous technology for use in the extreme environment of the Arctic.
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In this issue
In limbo: gold mining in Guatemala hangs in the balance
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With total gold reserves of close to seven tonnes, Guatemala could be one of the most exciting destinations for gold mining. However, as Nnamdi Anyadike explores, legal troubles and local opposition have made large-scale gold mining challenging.
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By GlobalData
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