Nicaragua awards gold mining rights to sister firm of US-sanctioned Chinese company

Nicaragua’s government has granted a 25-year gold concession covering 262 sq km of rainforest to Linze Excelente Mineria, a company that entered the Nicaraguan mining registry only last year. The Jade block, roughly a quarter the size of Hong Kong, was awarded three months after the US Treasury added Xinxin Linze Mineria Group to its sanctions list. Corporate filings show Lijun Dong acts as legal representative for both Linze Excelente and the sanctioned Xinxin Linze, while Shiliang Yang, who signed the concession, also serves as a lawyer for the blacklisted firm.

The US had previously alleged that Xinxin Linze received tens of thousands of acres from Nicaragua and shipped more than $25 million in gold to the United States in the first half of 2025. Gold is one of the few hard-currency sources left to President Daniel Ortega, whose regime and family have been under US sanctions since a 2018 crackdown. Managua’s pivot toward Beijing, including breaking ties with Taiwan and signing a free-trade pact in 2024, underscores the strategic importance of this mining deal.