LatinNews Daily - 14 February 2023

In brief: Nicaragua mining minister upbeat on gold exports

*Nicaragua’s energy & mines minister Salvador Mansell has said that gold, the country’s main export, is worth over US$935m in sales, a figure projected to exceed US$1bn in 2023. Speaking to state-owned TV channel TN8 he said that in 2007, the year President Daniel Ortega took office, just 86,000 ounces of gold was produced, a figure which has surged to 524,000 ounces in 2022, and which he hopes will increase by 40,000 ounces in 2023. Mansell’s comments come despite sanctions announced in October 2022 by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) targeting Nicaragua’s mining authority (DGM) and gold sector in response to the Ortega government’s crackdown on its critics and dismantling of democracy. Mansell was also sanctioned by OFAC in November 2021.

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