NEW YORK A
proposed moratorium on new mining licenses by the Guatemalan
government "will not affect any exploration or reconnaissance"
activities at Firestone Ventures Inc., the company said.
Otto Perez Molina recently said that his government would
present a bill to Congress authorizing a moratorium on new
mining licenses, during which time the government would
consider new mining laws (
amm.com, July 11).
Firestone, which owns
a number of properties in the nations zinc-lead-silver
mining belt, doesnt anticipate being affected by the
move, Pamela Strand, president of the Edmonton, Alberta-based
company, told AMM.
active in Guatemala through three presidential administrations,
and this potential moratorium is only temporary. ... Its
the position of the ministry (of energy and mines in Guatemala)
that theyll comply with existing laws for now, so it will
not affect exploration or reconnaissance work for us," she
"That being said,
there are always risks in every jurisdiction. I dont
completely understand their logic. A lot of the exploitation
licenses issued in the last few months have received no
opposition from local communities, and we certainly have a
community that is very supportive of our project," Strand
The company is working
toward an environmental impact assessment for its Torlon Hill
project, for which it has already obtained an exploitation
license, Strand said.