Guatemala: Gold, silver mines to pay royalties of 4%
Friday, January 27, 2012
The agreement signed by 22 companies in the extractive industry will mean an increase in annual revenues from mining royalties of about $64 million.
Having previously paid 1% in royalties, gold and silver mining companies will pay the Guatemalan state a rate of 4%, said the President Otto Perez Molina.

"In the case of base metals, nickel and zinc, among others, the rate rises to 3 percent, while for non-metallic minerals, construction materials, the level will remain at 1 percent, as established by the law", informed

Perez Molina said that with the increase in royalties the state will gain between Q600 million ($77 million) and Q700 million ($90 million) this year, which is about Q500 million ($64 million) more than the amount the industry previously paid.
More on this topic
Nicaragua: $100 Million Invested in Gold Mines
July 2019
Canada's Calibre Mining bought from B2Gold Nicaragua, the El Limón and La Libertad gold mines, as well as the Pavon project and other concessions, in a transaction that totaled $100 million.
The El Limón and La Libertad mines have produced more than 1.4 million ounces of gold since 2010, and their combined production of gold in 2019 is projected to be between 150,000 and 160,000 ounces, the company said in a statement.
Mining Royalties in Panama
March 2012
As gold becomes an important export item, royalties paid by mining companies remain low.
Gold exports rose by 63% between 2010 and 2011, reaching $85.1 million last year. Petaquilla Gold, owner of the Molejon mine, became the largest exporter in the country.
Mining Royalties to be Voluntary
January 2012
The establishment of the royalties paid by mining companies will not be subject to law, but the product of voluntary agreements between the government of Guatemala and those companies.
After negotiations with the industry, officials from the Ministry of Energy and Mines signed agreements with mining companies to increase royalty payments.
Minera Panama Will Only Pay 2% Royalty
May 2011
The Canadian company Minera Panama, SA announced that it will only pay a 2% royalty on profits to the Panamanian State.
The official response from the company was given last week, after several months of discussion with the current government, including after bringing up in the reform of the Mineral Resources Code (last February) the possibility of upgrading the royalties from 2% to 4%.
Key entities
Mario Marroquín Otto Pérez Molina
Mining & Geology
Mining & Geology
Metal mining
Mining Law
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