The regime grants a small mining concession to an American company in Chinandega
The granted lot consists of 1,352 hectares and comes after meetings between Laureano Ortega and Attorney General Wendy Morales with foreign companies that have a presence in the country.
TL;DR
- Plantel Los Ángeles S.A., a US-Canadian company, received a 1,352-hectare mining concession for the Flor de Azalea lot in Chinandega.
- The concession is valid for 25 years, with operations required to start within four years.
- The company will pay a tiered fee per hectare, starting at $0.25 and increasing to $3 by the fourth year, eventually reaching $12 by the eleventh year.
- A 3% royalty on extracted substances must be paid semiannually.
- This concession to a North American company stands in contrast to numerous mining permits granted to Chinese companies.