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2024-06-25 Caribbean-Latin America
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Report: Nicaragua Communist Regime Hands over Nation's Gold Mines to China
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[Breitbart] Nicaragua’s communist regime has granted control of the nation’s gold mines to China in dubious and expedited procedures, the Argentine news outlet Infobae reported over the weekend.
Nicaraguan biologist and activist Amaru Ruiz explained to Infobae that the regime of dictator Daniel Ortega has granted at least 13 mining leases over the past six months to three Chinese companies through procedures that are “not normal,” as the leases were approved in an expedited manner and without due process. Some of them were allegedly approved as quickly as two months after being requested.
The 13 lease contracts reportedly grant the Chinese companies Zhong Fu Development, Thomas Metal, and Nicaragua XinXin Linze Minera Group exclusive rights for the exploration and exploitation of mineral deposits spanning nearly 250,000 hectares for a period of 25 years, renewable for an additional 25 years.
The three companies, Infobae stated in its report, would manage 11.66 percent of the entire mining area that communist dictator Daniel Ortega has so far leased, which is estimated at almost 2 million hectares according to official information.
“We don’t even know if there are environmental impact studies with the granting of these concessions,” Ruiz said. “We consider that they do not exist because of the time in which the concession is granted, which is really very short compared to other processes of other companies.”
Gold has become Nicaragua’s top export in recent years, registering over $1.1 billion in gold export revenues during 2023, a 22.4-percent increase when compared to 2022.
In May, the United States imposed sanctions on Comintsa and Capital Mining, two Nicaraguan-based gold companies with ties to the Ortega regime. The Department of the Treasury explained that Comintsa is owned by Salvador Mansell Castrillo, who previously served as Ortega’s energy and mines minister and one of the Ortega regime’s high-ranking offers sanctioned by the United States in 2021.
Similarly, the U.S. Treasury Department explained in its May statement that Capital Mining serves as an intermediary company of the Ortega regime in Nicaragua’s gold sector controlled by Laureano Ortega Murillo, dictator Daniel Ortega’s son.
“The designations of Comintsa and Capital Mining target government-affiliated gold companies generating revenue for the Ortega-Murillo regime,” the Department of the Treasury stated. “Gold is Nicaragua’s top commodity export, and this action aims to degrade the ability of the Ortega-Murillo regime to manipulate the sector and profit from the corrupt operations of Comintsa and Capital Mining.”
America previously imposed sanctions on Nicaragua in October 2022 against the General Directorate of Mines meant to curb the authoritarian Ortega regime’s ability to fund itself from gold mining proceeds. 
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Posted by Skidmark 2024-06-25 00:25||
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File under: Commies
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