Chinese mining company Tutuwaka Mining accelerates its expansion with a new plot in El Rama
Chinese companies control nearly 10% of the national territory through 25-year mining concessions covering over one million hectares.
TL;DR
- Tutuwaka Mining Company S.A. received a new 157.25-hectare mining concession in El Rama, South Caribbean, Nicaragua.
- The concession is for the exploitation of metallic and non-metallic minerals.
- This is Tutuwaka Mining's second concession in Nicaragua.
- Chinese companies now control over one million hectares (8.5% of Nicaragua's territory) in mining concessions.
- Chinese companies have displaced traditional investors from countries like Canada, Colombia, and the UK.
- The company's obligations include paying Surface Rights, starting at $0.25 per hectare annually.