China's Pursuit in Nicaragua Extends Beyond Gold: The Hidden Business of Copper, Cobalt, and Uranium
Mining concessions held by Chinese companies cover areas rich in strategic minerals. An investigation by Fundación del Río reveals indications of under-invoicing in copper exports, with a gap of up to 32 million dollars unreported.
TL;DR
- Chinese mining companies in Nicaragua are interested in critical minerals like copper, cobalt, tungsten, molybdenum, and uranium, not just gold and silver.
- Investigations by Fundación del Río and Expediente Público suggest under-invoicing in copper exports from Nicaragua to China, with a potential $32 million gap.
- Concessions granted to Chinese companies are located in areas rich in polymetallic deposits, including strategic minerals used in technology, energy, and defense.
- Two Chinese companies, Santa Rita Mining and Sin Sin Lince, are identified as active exporters from Nicaragua.
- Fifteen Chinese companies control 71 mining concessions covering 8.5% of Nicaragua's national territory, displacing companies from other countries.
- Legal reforms pushed by the Nicaraguan regime have facilitated the granting of mining lots and reduced environmental requirements for extractive projects.