Mineros S.A. Reports Significant Progress on Nicaragua Expansion
Mineros S.A. leverages record gold prices to fund aggressive Nicaragua expansion while clearing legacy tax hurdles
The most recent news (March 03, 2026) confirms that Mineros has achieved a 14.3% increase in processing throughput at its Hemco plant in Nicaragua, reaching 2,000 tonnes per day (tpd). This is a critical step toward the year-end goal of 2,500 tpd. The company has procured major capital equipment for the next phase and initiated a record 75,000-metre drilling program. This follows a blockbuster 2025 financial report showing $800 million in revenue and $145 million in net profit, despite a $49.3 million one-time tax settlement in Nicaragua.
The news is Routine - Positive. While the throughput increase is a material operational improvement, it is strictly in line with the strategic guidance provided in February 2026. - Operational Efficiency: Moving from 1,750 to 2,000 tpd validates management's ability to execute on "debottlenecking" the Nicaragua assets. - Financial Strength: The company is funding a record $113.7M CAPEX program entirely from internal cash flow, which reached $138M (free cash flow) in 2025. - Risk Mitigation: The settlement of the $49.3M tax dispute, while a heavy cash hit, removes a significant legal overhang and stabilizes the relationship with the Nicaraguan government. - Exploration Upside: The 75,000m drill program is aggressive for a company of this size and targets high-grade continuity which could significantly extend mine life beyond the current 6-year estimate for Hemco.
Mineros S.A. is a Latin American gold producer with two primary assets: - Nechí Alluvial (Colombia): A low-cost dredging operation with a 12+ year mine life. - Hemco Property (Nicaragua): The current growth engine, consisting of the Panama and Pioneer underground mines and a large artisanal mining partner program (Bonanza model). - La Pepa (Chile): A 100%-owned exploration project in the Maricunga belt with >2Moz Au resources.