Zug, Switzerland, August 20, 2024 – Solway Investment Group is pleased to announce that its Guatemalan subsidiaries, CGN and Pronico, have successfully secured the essential export license for ferronickel, authorized by the Ministry of Energy and Mines (MEM).
Marco Aceituno, the President of CGN-PRONICO, highlighted that obtaining the export credentials marks a crucial step forward. The company is now focused on initiating maintenance of the processing plant and undertaking necessary work at the mine, with plans to restart ferronickel production within the next 8 to 10 months.
This development is part of Solway’s broader efforts to enhance corporate governance and operational transparency. Solway has concentrated on reinforcing its commitment to responsible business practices. The company, supported by leading experts from the U.S. and Europe, has implemented new initiatives, including designing and implementing whistleblowing procedures, conducting awareness training for senior and middle management, appointing compliance officers at CGN and PRONICO, developing a risk-based compliance training program, and collaborating with the Guatemalan Anti-Corruption Commission. These steps underscore Solway’s dedication to maintaining the highest standards of integrity and accountability.
“As Solway moves forward,” Aceituno emphasized, “clear and consistent communication with employees and local communities remains a top priority. The company is committed to maintaining rigorous safety protocols, environmental stewardship, and robust community engagement, contributing to the region’s economic stability and sustainable development.”
Guatemala, which traditionally contributes approximately 1.8% of global nickel production, is now poised to benefit from rising demand for this strategic metal, bolstered by the government’s decision to restore the export license.
Zug, Switzerland, August 20, 2024 – Solway Investment Group is pleased to announce that its Guatemalan subsidiaries, CGN and Pronico, have successfully secured the essential export license for ferronickel, authorized by the Ministry of Energy and Mines (MEM). Marco Aceituno, the President of CGN-PRONICO, highlighted that...
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Solway Investment Group (SIG), a Swiss mining and metals group, is pleased to announce that the US Treasury Office of Foreign Asset Control (OFAC) has granted a license to its Guatemalan subsidiaries Compañia Guatemalteca de Níquel (GCN) and Compañia Procesadora de Níquel de Izabal (ProNiCo). After...
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Due to the sanctions imposed by the U.S. Department of Treasury Office of Foreign Asset Control (“OFAC”), a mining and a smelting company in Guatemala, Compañía Guatemalteca de Níquel (CGN) and Compania Procesadora de Niquel de Izabal SA (Pronico) are forced to temporarily suspend their...
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