Post by
SHEEPBAAA1 on Nov 11, 2024 3:37pm
CXB and Ortega
https://www.oaklandinstitute.org/symbolic-sanctions
"Despite Calibre receiving more than US$134 million in financing from US-based investment firms and close to US$120 million in direct revenue the company has provided to the Ortega-Murillo regime since 2020, the US Treasury Department opted to sanction two companies, COMINTSA and Capital Mining, which appear to collectively control three concessions with a total area of 5,513 ha – less than half of one percent of Calibre’s total holdings of 1.13 million ha. Furthermore, while not much is known about the gold production at COMINTSA’s concessions, Plantel Los ngeles, which is now owned by Capital Mining, produces 14,500 ounces of gold annually, less than six percent of Calibre’s gold production in Nicaragua in 2023 – 242,109 ounces. Plantel Los ngeles claims to have paid US$4.25 million in taxes to the Nicaraguan government in 2020, compared to the over US$21.6 million paid in taxes and royalties by Calibre that same year. In 2023, Calibre paid nearly US$37.4 million in taxes and royalties to Nicaraguan authorities.
Comment by
Singoa58 on Nov 11, 2024 5:00pm
This is devastating ...also they can change the deal at anytime too and what can you do? Look at first quatum in Panama who made a deal for 20 years and they null and voided deal and one of the biggest copper in the world is now closed permanently