In June, the Nicaraguan National Assembly (parliament) approved the creation of the Nicaraguan Mining Co. (Eniminas), which will be in charge of the exploration and exploitation of mining resources. Eniminas will be a decentralized public company of the state under the rectory of the Ministry of Energy and Mines, and will be subject to the Special Law on the Exploration and Exploitation of Mines (2001), explained the official Deputy Jenny Martinez, in the plenary.
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.