economy
Regime Grants Another Concession to Chinese Mining Company
The Attorney General's Office (PGR) granted a new mining concession to the Chinese-capitalized company Nicaragua XinXin Linze, Minería Group, Sociedad Anónima, in the municipalities of El Rama, Kukra Hill, and Laguna de Perlas in the South Caribbean Autonomous Region.
TL;DR
- The Nicaraguan Attorney General's Office awarded a 38,650-hectare mining concession to the Chinese company Nicaragua XinXin Linze.
- The concession, located in the South Caribbean Autonomous Region, is for 25 years, with escalating annual payments per hectare and a 3% royalty on gold extraction.
- The regime also granted two mining concessions to the Canadian company La India Gold in Chinandega, covering over 1,700 hectares under similar terms.
- These concessions represent an expansion of Chinese involvement in Nicaragua's mining industry under the Ortega-Murillo administration.