Nicaraguan law aims to boost mine investment

Nicaragua has enacted a new mining law in hopes of bringing foreign investment to an industry that hasn’t seen a significant new project since the 1970s. Currently, Nicaragua is home to three major mines, where Canadian companies are extracting gold and such construction ingredients as sand and limestone. Government officials say the new law, enacted Aug. 13, gives investors more security and flexibility by allowing companies to buy and sell concessions and to move from exploration directly to production without need for a new contract. “We hope that in five years we have a significant new find and a better idea of Nicaragua’s mineral reserves,” says Jorge Préndiz, Executive Director of the non-governmental National Office for Geological Resources. Environmentalists worry the law will make... [Log in to read more]

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