Through its subsidiary Cerro Colorado Power, the concessionaire of the project, Ram Power, expects to complete the paperwork to begin the operation by June.
After obtaining the grant for geothermal energy exploration in the Casita project in 2008, the company Ram Power is prepared to sign with the government of Nicaragua the contract for the operation of the project, estimated for midyear.
The Government announced that it will launch a tender for the exploitation of copper deposits in Cerro Colorado.
Through the tender a company will be selected to join the State Mining Development Corporation Cerro Colorado (Codemin) and perform the exploitation of one of the largest copper reserves in Latin America.
Roberto Henriquez, head of Trade Department, told Prensa.com "more than a dozen multinational companies have knocked on the doors of the ministry to show their interest in exploiting the site, but for now there is no definite date for beginning this process.”