Rosario Mining Company
The President of Honduras, Marco Aurelio Soto, offered companies that invested in the mine in San Juancinto a 20-year exemption from all taxes.
By 1904 accretions by Honduras Government grant and purchase increased the territory to over 12,000 acres (20 square miles).
[3] On August 24, 1916 the stockholders of the New York & Honduras Rosario Mining Company voted to increase the board from nine to eleven.
Guess, Managing Director of the mining department of the American Smelting & Refining Company, owned by Daniel Guggenheim.
[6] Under Reininger's leadership, El Mochito, with its rich ore and spectacular wire silver, soon became Central America's largest precious and base metals producer.
Out of El Mochito's profits, Rosario made successful investments in new projects in the United States, Canada, Mexico, Peru, Nicaragua, and the Dominican Republic, as well as major Canadian gas discovery in 1969 and 1970s oil play in the British North Sea.
From these projects flowed a cornucopia of gold, silver, copper, lead, zinc, mercury, granite, limestone, and petroleum.
In 1973, the company was rename Rosario Resources Corporation to reflect its greater geographic and product diversification.
In 1976, Rosario's acquisition of the Fresnillo Company in Mexico helped it become the largest silver producer in the Western Hemisphere.
After a takeover fight, Reininger negotiated highly rewarding terms for the merger of the company into AMAX in April 1980.
In 1880, after successful negotiations with the fragile Honduran government, The New York and Honduras Rosario Mining Company was established in the US.
[citation needed] The mineral wealth of the San Juancito mountains was first discovered by native Indians as early as the 15th century.
During its 74 years of operation, the New York and Honduras Rosario Mining Company extracted $100 million (U.S.) worth of gold, silver, copper and zinc from the San Juancito mountains.
[citation needed] Long tracks were opened to transport wagons, carriages, minerals and men.
[citation needed] The company reached its peak during the 1920s when more than three thousand miners worked in the mine, and there was an American consulate at El Rosario.
The American firm built housing, offices, terraces, tunnels and several routes which cross the mountain region.
[citation needed] The mining company closed and thousands of people left the area in search of work.
The intervening half-century allowed the forest to regrow, and much of the Rosario mine workings are now within La Tigra National Park.
The original option was obtained August 2, 1935, but was not to become operative until title to the Bonanza Group has been perfected, which was not accomplished until June 12, 1936, and the original option was then merged into one bearing date of July 15, 1936, providing for an examination period of eighteen months, subject to extension under certain conditions.
At the end of the 19th century, José Dámaso Valle, a prospector from León who discovered 14 gold mines and registered them in his name in the Bluefields Registry Office.
[13] In July 1936, the La Luz property was optioned by The Tonopah Mining Company of Nevada, in association with Ventures Limited.
The option was exercised in July 1938 and a Canadian corporation, La Luz Mines Limited, was formed.
Ventures Limited was a large stockholder of Tonopah; Thayer Lindsley held the position of president for both companies.
At the La Luz Mines Limited property, active construction started in November 1938 on a cyanide mill, electric plant, machine and carpenter shops, limekiln and commissary, and river station.
