The Ministry of Environment is not in agreement with how the government’s Corporate Unit of Mining is handling the tender to develop the sulphide ore deposits in northcentral Cotui. The deposits are estimated at more than 100 million tons, which could generate over US$2 billion over the 30 year life span of the mine. El Caribe newspaper mentions a Stone and Engineering report that indicates the geological reserves contain more than 30 million ounces of gold, 109 million ounces of silver and 2.7 million tons of zinc. The Environment Ministry warned the six companies participating in the tender that they must obtain an Environmental License to operate legally. Miguel Peña of the Corporate Mining Unit told El Caribe newspaper that USAID funds would be used to carry out an ecological impact study. He said the winning company must present an engineering study showing the detailed plans and possible negative effects to the habitat. He said the mine would return gold exports to levels of the 80s when the country exported some US$500 million a year. President Mejia has reassured the nation that the reopening and development of the mine would be carried out with advanced equipment to prevent damage to the environment. He said he expects to announce the winner of the tender on 31 July of this year.
