Gold rush in Nicaragua

Gold mining in Nicaragua, the largest country in Central America, is experiencing a dramatic increase thanks to the arrival of foreign companies with the money and knowledge to use the country's reserves. Gold mining has doubled in the country over the past 10 years

According to a recent COPADES survey, using just 0.3% of Nicaragua's land area, the mining sector has been able to double gold production and increase silver output by up to seven times over the past 11 years.
The country produced over 267,000 ounces of gold last year, significantly more than the 109,200 ounces produced in 2006. In turn, silver production reached almost 682,000 ounces in 2016, up from 94,200 ounces in 2005.

The overall production of bullion is complemented by small-scale artisanal mining of placer and alluvial placer gold, especially in the regions that form the so-called "mountain triangle": Siuna, Rosita and Bonanza, where small-scale gold mining has been going on since 1880.

The medium to large gold mining industry, although developing, generates a steady income for the country's treasury, and it is now one of the driving forces of economic growth in the country. For every dollar generated by mining firms, Nicaragua has 0.66 cents left in payments for taxes, wages, and the purchase of local goods and services, according to the Chamber.

However, most of the companies operating in the country are foreign, with Canada, Mexico and the United States leading investments in this sector.