New 2,500-hectare mining concession for Chinese company in San Juan de Río Coco
With this permit, Chinese companies now control 72 mining concessions in Nicaragua
TL;DR
- Palacagüina Mining, a Chinese company, received a 25-year concession for 2,500.33 hectares in San Juan de Río Coco, Madriz.
- The concession allows for the extraction of metallic and non-metallic materials.
- This brings the total number of mining concessions held by Chinese companies in Nicaragua to 72, covering 8.5% of the national territory.
- The company will pay a gradual increase in hectare exploitation fees and 3% in royalties on extracted substances.
- Several Chinese mining concessions are located in indigenous territories and environmentally sensitive areas.
- Chinese companies are displacing traditional investors from countries like Canada, Colombia, and the United Kingdom.