The Honduran mining sector is organized in two groups: metallic and non-metallic (quarries) minerals. During 2011, the tax collector (Direccion Ejecutiva de Ingresos) and the Executive Direction of Mining Development (DEFOMIN) reported total receipts from the mining sector of approximately USD 17 million. Income tax represents 96% of this total.
DEFOMIN also informs that 98 exploitation licenses for metallic minerals and 161 exploitation licenses for non-metallic minerals have been awarded. It was further reported that 21 companies exploited non-ferrous minerals and quarries and five mining companies exploited metals (gold, silver, iron oxide, zinc and lead). Production of these metals in 2012 was: 278 troy ounces of gold, 1.33 million metric tons of iron oxide, 36 million pounds of zinc, 6 million pounds of lead, and 1.4 troy ounces of silver. 2012’s exports amounted to about USD 1 million.
Concerning oil and gas, the government awarded a license to BG Group directly for hydrocarbon exploration in an area of approximately 300 million km2 in the Mosquitia province in the east of the country by the Caribbean Sea in April 2013.
Honduras produced the country's frist EITI Report for fiscal years 2012 and 2013. In accordance with the EITI Standard, Honduras concilates payments done by 6 metallic mining companies and receipts collected by central government and municipalities. The Report includes a confirmation of the payment and SERNA's receipt for US$ 300 000 paid by BP International Limited, Sucursal Honduras for the concept of canon.
Honduras became candidate on 22 May 2013. See Honduras' candidature application for more details. Following the transitions arrangements approved by the EITI Board on 21 August 2013.
Timeline of Honduras' implementation (click on image to enlarge):
- Pilot project on benefitial ownership. Following a scoping study, the pilot targets data collection on ownership percentages of Honduran operating's parent companies that are listed in stock exchange markets.A report on the beneficial ownership project in Honduras is excted to be presented in June 2015.