Regime in Nicaragua grants mining concession to Chinese company Tutuwaka Mining in the South Caribbean Coast
Nicaragua grants a 25-year mining concession in the South Caribbean Coast. A company will have exclusive rights over more than 150 hectares in El Rama.
TL;DR
- Tutuwaka Mining Company received a 25-year mining exploitation permit for the "Isabela II" lot in El Rama, South Caribbean Coast.
- The concession covers 157.25 hectares and grants exclusive rights for exploration and exploitation.
- The company must pay validity rights, 3% royalties on extracted minerals, and submit production reports.
- Strict environmental and occupational safety standards must be met, along with coordination with landowners.
- Exploration activities must begin within four years, requiring an environmental permit beforehand.
- The concession is recognized as a real estate right, assignable or leaseable with state authorization.