Metals Exploration has announced that development at its fully owned La India gold project in Nicaragua is progressing, with first production expected in December 2026.
The company released updates on construction and financing across various aspects of the site.
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As of 15 August 2026, La India had achieved approximately two million cumulative hours worked without a lost-time injury.
The structural, mechanical, piping and electrical installation (SMPEI) for the process plant is approximately 50% complete.
Metals Exploration said that the grinding building structure is finished, the ball mill is installed and preparations for setting the semi-autogenous grinding (SAG) mill are under way.
The installation of carbon-in-leach (CIL) tank rings is 88% complete, while leach and detox tanks are 80% and 70% finished, respectively.
Civil works are reportedly 93% complete on bulk earthworks and 92% on civil foundations.
The pre-stripping of the open pit stands at 71% and site infrastructure has also advanced.
The company stated that both the mine and heavy mobile equipment offices are operational, and the water treatment plant is complete.
Camp installation is approximately 90% finished and industrial buildings are 88% done.
The explosives magazine has also been completed, although an operating permit is pending.
In terms of power, a 2MW grid connection to Nicaragua’s national electricity transmission company, ENATREL, is operational, with an 800 kilovolt-amperes back-up generator in place.
The mining fleet includes ten caterpillar (CAT) 777 haul trucks and two CAT 6020 excavators, with additional vehicles in transit or being manufactured.
A $27m (£19.8m) equipment financing agreement has been secured with Banco de America Central, with $20.2m drawn down.
The company said that delivery delays for some imported materials have occurred due to international shipping disruptions linked to the conflict in Iran, and alternative logistics solutions are being considered.
Approximately 244,000t of ore has been stockpiled ahead of commissioning.
Elsewhere, mining at Metals Exploration’s Runruno operation in the Philippines is forecast to meet the upper end of 2026 guidance, attributed to higher-grade ore extraction in the stage five pit.
Metals Exploration CEO Darren Bowden said: “Construction at La India continues to make strong progress, with installation of the process plant advancing across multiple fronts. The ball mill is in its final position, the SAG mill is ready to follow and the CIL tank fit-out is nearing completion.”
Metals Exploration acquired the La India project from Condor Gold in January 2025.
The company’s concession area in Nicaragua now spans 1,222km².
