In response to the recent media coverage on the protests in Guatemala, we would formally like to inform on the following:
In their operations both Solway’s subsidiaries CGN and Pronico are directed by the applicable legislation of Guatemala and the decisions of the courts.
According to the corresponding legal regulations of Guatemala, all the public consultations activities requested by the Constitutional Court of Guatemala in connection with the Fenix license suspension fall under the responsibility of the Ministry of Energy and Mines (MEM) and are regulated by the Constitutional Court’s guidelines. In these procedures CGN management is obliged to fully comply to the MEM requirements.
As per the official statement issued by the government of Guatemala on October 24, 2021, the pre-consultation process that began on September 28 regarding Fénix mining extraction, located in El Estor, Izabal, and whose area of influence reaches that municipality and that of Panzós, Alta Verapaz, is fully complying with the provisions of the CC in the Judgment dated June 18, 2020, within File No. 697-2019.
The project in Guatemala operates under two extractive licenses Fenix and Montufar issued to the extractive company Compania Guatemalteca de Niquel (CGN). The Pronico processing plant, is an independent legal entity.
In February 2021, upon receiving the notification from the Ministry of Energy and Mining of Guatemala (MEM), CGN adhered to the court order of July 2019 and halted its operations falling under the Fenix license.
The works at Montufar have not been the subject of the legal dispute and are not regulated by the aforementioned 2019 court decision.
The Pronico processing plant’s operations are not licensed under the Mining Law (Ley de mineria), the company has not been the subject of the mentioned litigation and not regulated by the aforementioned 2019 court decision.
Jakarta, November 8, 2021. PT Aquila Cobalt Nickel (ACN), a subsidiary of the Swiss-based Solway Investment Group, signed a Sales & Purchase Agreement with the state-owned electricity company PT PLN for the supply of 200 MVA to its Aquila Project. The agreement allows ACN to obtain up to 100% of power sourced...
In response to the recent media coverage on the protests in Guatemala, we would formally like to inform on the following: In their operations both Solway’s subsidiaries CGN and Pronico are directed by the applicable legislation of Guatemala and the decisions of the courts. According to the corresponding legal...
25th August 2021, Zug, Switzerland Solway Investment Group is proud to announce to have been selected as a finalist for the Social and Human Capital Award at 12th Reuters Events: Responsible Business Awards 2021 – the world’s leading celebration of responsible business excellence. Reuters Events Responsible Business Awards are the world’s leading...
2020 Solway Group consolidated revenues of USD 624.2 million, the same as last year. Group Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of USD 167 million with EBITDA margin of 26.7 % Production costs decreased by 6.3 % year over year (y-o-y) to...
Solway Investment Group is proud to be a partner of the inaugural International Sustainability Forum organized by the Association of Sustainable Development Experts, the first international community of sustainability practitioners in Ukraine. With a focus on increasing knowledge of sustainability and building an international culture of...
Solway is pleased to announce its first venture into lithium and graphite production as the Group seeks out cleaner, green energy metals and net zero emissions projects. The investments in graphite and lithium are a timely response to rapidly growing global demand for rechargeable battery...
February 23, 2021. Radovish, North Macedonia. In accordance with the Law on Environment of North Macedonia, after passing inspection and fulfilling the necessary legal conditions, Borov Dol DOOEL-Radovish was granted an A-Integrated environmental permit by the Ministry of Environment and Physical Planning of North Macedonia. The award...
Zug, 22nd January, 2021. Solway Investment Group marks fifth anniversary of Salzburg Festival collaboration with launch of digital platform for young talent and their mentors As the Salzburg Festival celebrates its centennial year, Solway Investment Group also commemorates its fifth anniversary of collaboration with the festival, with the...
- 2019 Solway Group consolidated revenues of USD 637 million, an increase of 19% vs. 2018 - Group EBITDA of USD 141 million; EBITDA margin of over 22% - Production costs increased slightly by 2.5% to USD 468 million - Group total assets reached USD 1.149 billion at...
