Nicaragua's La India Gold Project Expected to Commence Production in December 2026

en.Wedoany.com Reported - On August 21, Metals Exploration secured $27 million in equipment financing for the construction of its La India gold project in Nicaragua, with an initial tranche of $20.2 million already drawn down. First gold production from the project remains on track to be achieved by December 2026.

As of August 15, the La India project has accumulated approximately 2 million work hours without a lost-time injury. Structural, mechanical, piping, and electrical installation for the process plant is approximately 50% complete. The grinding building structure is complete, with the ball mill in place and the SAG mill ready for installation. Leach tank ring installation is 88% complete, while leach tanks and detox tanks are 80% and 70% complete, respectively. Earthworks are 93% complete, civil foundations 92% complete, and open-pit pre-stripping 71% complete. Approximately 244,000 tonnes of ore have been stockpiled on the run-of-mine pad ahead of production.

Mine and heavy mobile equipment office facilities required for project construction are operational, and the water treatment plant is complete. Camp installation is approximately 90% complete, and industrial buildings are 88% complete. The explosives magazine has been built, but its operating permit is still pending approval. A 2 MW grid connection has been tied into Nicaragua's national power utility, ENATREL, and is operational, with an 800 kVA standby generator in place.

Metals Exploration has signed a five-year equipment financing agreement with the Central American Bank. The mine fleet currently has 10 Caterpillar 777 haul trucks and 2 Caterpillar 6020 excavators on site and operational, with additional units in transit or under manufacturing. The company stated that international shipping has been disrupted by the Iran conflict, causing delivery delays for certain imported equipment and materials, and is evaluating alternative logistics solutions.

Metals Exploration acquired the La India project from Condor Gold in January 2025, and its mineral concession area in Nicaragua now covers 1,222 square kilometers.