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Solway Investment Group’s official statement regarding suspension of the Fénix project’s license

Publication date:

2020-06-20

Solway Investment Group would like to make a clarification regarding the decision issued by Guatemala’s Constitutional Court to suspend the Fenix project’s operational license.

 

The company fully cooperates with the relevant bodies overseeing mining operations in Guatemala.

 

The company will continue its operations in full compliance with the laws and within the boundaries of its current active licenses since our primary focus is to maintain the employment and social stability and health and well-being of our employees in a region heavily impacted by the pandemic.

 

In the meantime, Compañía Guatemalteca de Níquel (CGN) and Compañía Guatemalteca de Níquel de Izabal S.A are in the process of obtaining further clarification regarding the Constitutional Court’s decision. During the period of public consultations, Compañía Guatemalteca de Níquel (CGN) will rearrange its production plans and focus on excavating ore from the alternative resources. This will allow Pronico to maintain sustainability of production as the company uses ore sourced from three different mines.

 

The Group will provide a further update as soon as it has further clarity from its ongoing discussions with the authorities.