Plantel Los Angeles, a key player in Nicaragua's mining sector, will invest an additional $25 million to expand its inclusive business model focused on promoting social and economic prosperity in the country.
The expansion envisions the construction of 3 new gold processing plants in different regions where small-scale mining is prominent, positively impacting the livelihoods of 3,000 miners.
Following the successful development of its most recent Los Angeles campus investment, the company aims to replicate this model as part of its responsible mining growth strategy. "The model promotes legal order and stability in artisanal mining, turning it into a formal and sustainable activity that directly benefits communities, guaranteeing a comprehensive and immediate impact for families in the sector," said Randy Martin, president of Plantel Los Angeles.
The impact of this investment translates into the injection into the local economy of more than USD$ 15 million per year per campus, the generation of 350 direct jobs and benefits to more than 3,000 mining families.
The model provides important contributions to the environment by removing mercury commonly used in traditional artisanal mining processes; each facility will remove up to 2 tons of mercury per year. In addition, the company focuses on providing training and industrial safety for artisanal miners and promotes educational programs and other social programs aimed at community development.
"Plantel Los Angeles is a strategic ally of artisanal miners and surrounding communities as it is committed to the social, economic and environmental development of the artisanal mining sector in Nicaragua," Martin added.
