UK-based miner Condor Gold has obtained an environmental permit to build and operate a new mine in Nicaragua, fitted with a capacity of up to 2,800 tonnes per day.
The company’s wholly-owned La India Gold project is located in Nicaragua’s Department of Leon.
"Gold production is expected to be approximately 80,000 oz gold per annum from a single open pit, represents a US$120 million investment and creates 1,000 new jobs," Mark Child, the chairman and chief executive of Condor Gold, said in a statement.
The miner says that construction work is expected to begin within 18 months following the granting of the environmentla permit, and it is scheduled to take between 18 and 24 months.
Condor Gold is a gold exploration and development business focused on projects in Central America, according to data from the company.