Nicaragua grants another permit to Chinese mining company in areas totaling 8.5% of the territory
Nicaragua granted a new mining concession to a Chinese company, bringing the national territory handed over to these companies to 8.5%, amid questions about environmental impacts and lack of transparency
TL;DR
- Nicaragua granted a new mining concession to Tutuwaka Mining Company S.A., a Chinese firm.
- The concession covers 157.25 hectares in the South Caribbean Coast Autonomous Region.
- This brings the total area granted to Chinese mining companies since 2021 to 8.5% of Nicaragua's territory.
- Environmental and opposition groups have protested these concessions.
- Concerns include lack of transparency, potential environmental damage, and the exploitation of critical minerals like copper and cobalt.