July 12, 2024

Mining company Zug can resume operations in Guatemala

Mining company Zug can resume operations in Guatemala

Solway, a Zug-based mining company, operates mines and nickel processing plants in Guatemala. After US sanctions, the company was forced to temporarily suspend its operations. (Archive photo) KEYSTONE/AP/MOISES CASTILLO sda-ats

This content was published on October 3, 2023 – 9:23 pm

(Keystone SDA)

The Solway mining group, based in the city of Zug, has received the green light from the US authorities to resume its work in Guatemala. Solloway announced on Tuesday that two companies in Guatemala had obtained a license to extract nickel.

Solway now wants to implement “first-class policies and procedures” to ensure fully compliant and ethical business operations and to be recognized as a company with integrity and commitment to sustainability, the company wrote.

In November 2022, Solway suspended its activities in the nickel sector in Guatemala following US economic sanctions. The reason was the imposition of sanctions for “corruption” and “influence” by a Russian and a Belarusian on business activities in the Central American country.

Solway in Guatemala has also been the focus of environmentalists for a long time. Last year, the company was accused of hiding environmental damage from the public. The dispute over nickel mines has already led to violent clashes between demonstrators and police in Guatemala.

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