According to the Association of Natural Resources, Mines and Quarries (Grenat), at least five projects represent an investment potential between US$577 million and US$600 million, said the executive director of the entity, Lesly Véliz.
The executive also indicated that one of the main challenges in the country is to build an environment of trust that allows responsible investments to advance, respecting the legislation and generating economic and social benefits for the country, and lists at least seven challenges, among which they include the need to regulate Convention 169.
Véliz provided his responses in writing.
What do you think of the reactivation of the Fénix mine and the processing plant in Izabal?
The reactivation of operations in Izabal represents an important signal for the economy and for the recovery of confidence in the country’s productive investment.
Projects of this magnitude have a significant impact on the generation of direct and indirect employment, productive chains, exports and revitalization of local economies.
It is also relevant because it shows that Guatemala continues to have the potential to develop mining projects under increasingly demanding technical, environmental and social standards.
Formal mining can provide fiscal resources, development opportunities for communities and strengthening national suppliers.
In the specific case of Fénix Nickel, there is investment data close to US$85 million for the period 2025-2026, linked to the reactivation and operation of the project.
What could the restart of these activities mean for the country?
This reflects that there is still investment interest in the country when there are minimum conditions of viability and certainty.
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Furthermore, Guatemala is currently going through a favorable international context due to the high prices of minerals such as gold, silver and nickel. According to estimates presented by Grenat, if the country operated under normal conditions, the annual production of gold, silver and nickel could reach around Q14,200 million, generating approximately Q647 million in royalties and more than Q1,014 million in ISR.
This becomes even more relevant, considering that mining royalties went from approximately Q620 million in 2014 to just Q46 million in 2025, reflecting the economic impact that the stoppage of different mining projects in the country has had.
However, it is essential that any reactivation be carried out in full compliance with the current legal, environmental and social framework, promoting transparency, dialogue and legal certainty for all parties involved.
What other metal mining projects are about to be reactivated or come into operation? And what amount of investment would they mean?
Currently there are several projects and operations that could advance in different stages, whether reactivation, expansion, exploration or development, depending on regulatory, administrative conditions and legal certainty.
Guatemala has an important geological potential, especially in minerals such as gold, silver, nickel, copper and rare earths, which maintains the interest of national and international investors.
Among the projects with investment projections identified for 2025-2027 are:
- Aura Minerals, with the Era Dorada project, which contemplates investments of approximately US$380 million
- Pan American Silver, with the Escobal project, currently suspended, but which could represent between US$80 million and US$100 million to reactivate the plant once the consultation process is concluded
- Element28, with the Sechol project, projects investments of between US$30 million and US$40 million in 2026
- Minerales Sierra Pacífico projects around US$2 million for geological and geophysical exploration campaigns
- Fenix Nickel, with investment data of around US$85 million for 2025-2026.
Together, these projections reflect an investment potential between US$577 million and US$600 million in different segments of the mining sector.
Beyond a specific project, the main challenge is to build an environment of trust that allows responsible investments to advance, respecting legislation and generating economic and social benefits for the country.
What is the growth of the mining sector that Grenat projects for this year in Guatemala?
The mining sector has growth potential this year, especially if reactivation processes continue and some pending files are cleared. However, the behavior of the sector will depend largely on regulatory factors, legal certainty and institutional stability.
At Grenat we consider that Guatemala currently has an important opportunity derived from the favorable international context of prices for strategic minerals.
However, the country still faces limitations that have significantly reduced tax revenue and the sector’s competitiveness.
For example, while in 2014 mining royalties represented close to Q620 million, in 2025 they barely reached Q46 million. This shows the economic impact of the stoppage and delay of projects.
What challenges still need to be resolved in the country regarding the mining sector?
The country faces structural challenges of competitiveness and infrastructure.
Grenat has pointed out that logistics costs and the lack of adequate infrastructure directly affect the capacity for economic growth and attraction of investment.
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Among the main challenges that still need to be resolved are:
- Greater legal certainty and regulatory predictability. Agility and clarity in administrative procedures
- Institutional strengthening of technical entities
- Interinstitutional coordination
- Update and modernization of the regulatory framework
- Regulations of Convention 169
- Improvement in infrastructure and logistics competitiveness
- Generation of trust to attract responsible investment
Guatemala competes with other countries in the region to attract mining investment, so advancing institutional stability and clear rules will be decisive for the growth of the sector in the coming years.
#OnPortadaPL 🗞️ The Fénix Nickel operation is activated again in Izabal with expectations in production and exports.
What challenges and projections does the project face?
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