Honduras's extractive sector is small. In 2013 it accounted for 0.9% of GDP*. However, there has been a increased interest in expanding the sector.
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 US $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 also 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 were about US $1 million.
Concerning oil and gas, the government awarded directly a license to BG Group for hydrocarbon exploration in an area of approx. 300 million km2 in the Mosquitia province in the east of the country by the Caribbean Sea in April 2013.
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, Honduras is preparing its first EITI Report in accordance to the EITI Standard.
Timeline of Honduras' implementation (click on image to enlarge):