Nicaragua and the New Mining Law

The Assembly is preparing to approve a bill that creates the Nicaraguan Mining Company (Empresa Nicaragüense de Minas), which will be able to participate in exploration and exploitation activities carried out by companies who have received concessions.

Wednesday, June 14, 2017

In addition to the possibility of participating directly in activities carried out by concessionaire companies, once the law is approved, the Nicaraguan Mining Company (ENIMINAS), "... will have as its objective the execution and development of exploration and rational exploitation of the country's mining resources. "

The bill has already received a positive ruling from the National Assembly Infrastructure Committee, and is expected to be discussed and approved in the coming days.

See also: "Export of Metalliferous Minerals in Central America"

Sergio Ríos of the Nicaraguan Mining Chamber said that "... the private sector supports this initiative because it will boost artisanal mining. He also said that the state could set up sites to develop artisanal mining in areas where private enterprise does not work, which would benefit communities."

In a statement, the mining union emphasized that "... the law must allow and establish the legal mechanisms needed to promote transparent strategic partnerships between ENIMINAS and natural or legal persons, national or foreign, public and / or private for the development of areas of mining reserves, allowing both parties to freely negotiate the terms of these associations, within the limitations established by law depending on the legal nature of each body."

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More on this topic

Mining: Engine of Growth in Nicaragua

October 2017

Mining activities have grown at an annual average of 9% in the last ten years, mainly due to growing foreign investment, an increase in production and favorable international prices.

A report presented by the Nicaraguan Mining Chamber states that between 2006 and 2016, foreign direct investment totaled $793 million, having an annual average of $79 million. 

Nicaragua: Good Prospects for Mining

June 2017

This year's projections are for production of 276 thousand troy ounces of gold and 689 thousand silver, and it is expected that $355 million will be generated in export earnings.

The mining companies' association predicts that private investment this year will range from $125 million to $140 million. Sergio Ríos, president of the Mining Chamber of Nicaragua (Caminic), "... recently stated that 'gold production in 2016 amounted to 267,000 troy ounces' and that since 2011 the production of precious metal has grown at a annual average rate of 9.3%'."

Nicaragua Wants More Mining Investment

March 2017

The union of mining companies is promoting the arrival of new foreign investments in order to achieve greater development and formalization of metal mining in the country.

The president of the Mining Chamber of Nicaragua (Caminic), Sergio Rios, presented  to foreign businessmen the characteristics and conditions offered by the country's for mining investments and invited them to invest in the country and take advantage of its geological potential.

Nicaragua: Incentives for Mining

June 2016

A bill proposes the creation of a public mining company, which would be able to participate in concessions and form associations with other public or private companies.

Elnuevodiario.com.ni reports that "...Some of the functions that this law would have is to carry out feasibility analysis to set up mineral processing establishments in areas with mining potential, within concession areas; and market products derived from the exploitation of mineral resources. "

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