Deal #3670

Location #1

Spatial accuracy level
Administrative region
Location
Chinandega, Nicaragua

Target country
Nicaragua
Comment on location
The Limon Mine is located approximately 100 kilometres northwest of Managua and 20 kilometres from the Pan-American Highway. The property straddles the boundary of the municipalities of Larreynaga and Telica of the Department of Leon and the municipalities of Chinandega and Villa Nueva of the Department of Chinandega.

Land area

Size under contract (leased or purchased area, in ha)
[2012] 12000

Intention of investment

Intention of investment
Mining

Nature of the deal

Nature of the deal
Lease
Exploitation permit / license / concession (for mineral resources)

Negotiation status

Negotiation status
[2009] Concluded (Contract signed)

Implementation status

Implementation status
[2012] Startup phase (no production)

Leasing fees

Comment on leasing fees
Each mineral concession under the Nicaraguan Mining Code is subject to an agreement issued by the government of Nicaragua that includes the rights to explore, develop, mine, extract, export and sell the mineral commodities found and produced from the concession. Escalating annual surface taxes are payable to the Nicaraguan government for the Limon mineral concession. The surface tax rate was US$4.00 per hectare in 2009 and a maximum rate of US$12.00 per hectare will be reached in 2012 and maintained through subsequent years.

Contract #1

Duration of the agreement (in years)
25

Operating company

Operating company
Name of investment project
Limon Mine

 

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Data source #1

Data source type
Company sources
File
Date
2008-01-01

Data source #2

Data source type
Company sources
File
Date
2009-03-14

Data source #3

Data source type
Media report
File
Date
2012-12-29

Data source #4

Data source type
Company sources
File
Date
2012-03-30

Data source #5

Data source type
Company sources
File

Former land owner (not by constitution)

Former land owner
Private (large-scale farm)

Former land use

Former land use
Other
Comment on former land use
Mining

Detailed crop, animal and mineral information

Resources area
Gold

Use of produce

Has domestic use
Yes
Has export
Yes

April 6, 2016, 5:47 p.m.

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May 16, 2013, 1:42 p.m.

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May 4, 2013, 2:28 a.m.

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