State-owned Company is Created in Nicaragua
According to the law, in mining concessions located in the Autonomous Regions of the Caribbean Coast, 30% of the profits must be delivered directly to the municipalities in the mining concession district, proportionate to the respective area of each municipality. Another 20% will be granted to the respective Regional Council of the Autonomous Regions of the Caribbean Coast, in whose territory the exploration and exploitation activities are carried out; 25% will be allocated to the National Treasury; 10% to a mining supervision and supervision fund; and 15% to the so-called Mining Development and Promotion Fund, according to the project.
As for the mining concessions located in the rest of the country, 30% will be delivered directly to the municipalities in the mining concession district, 45% to the National Treasury, 10% to the mining supervision and supervision fund, and 15% to the Mining Development and Promotion Fund.
Total surface available for mining concessions in Nicaragua is 71,000 square kilometers, a little more than the territory of Ireland, according to data from the state-owned Investment Promotion Agency (ProNicaragua) in 2016. Currently, the country has about 10,000 square kilometers under concession and another 1,500 kilometers are in process of being granted for concession.