A mining company backed by Reform UK treasurer Nick Candy won extensive exploration rights in Nicaragua shortly after he met sanctioned officials from the authoritarian regime. Candy met Laureano Ortega, son of dictator Daniel Ortega, along with mining minister Salvador Mansell and attorney-general Wendy Morales in March. Around 10 days later, London-listed Metals Exploration, in which Candy is the second-largest shareholder, applied for eight new mining concessions covering over 60,000 hectares.

Official records show the applications were granted the day after submission. Metals Exploration subsequently signed a procurement contract with a state-run company linked to a sanctioned Nicaraguan official. A Candy spokesperson stated he was part of a delegation of over 30 stakeholders and had no involvement in the concession granting.

Metals Exploration said it began acquiring the new concessions in 2025, with the land package negotiated over six to eight months prior to the March application. All three Nicaraguan officials in the meeting have been subject to US sanctions since at least 2024. Washington accused the regime of corruption and human rights abuses.

Metals Exploration strongly rejected any implication of bribery or improper dealings with sanctioned individuals, stating it sought legal advice to ensure compliance with all applicable sanctions. The Nicaraguan government did not respond to requests for comment. Daniel Ortega has long been a ally of Cuba’s Fidel Castro and Venezuela’s Hugo Chávez.

Candy, together with his brother Christian, rose to prominence as a property developer behind a luxury London development attracting oligarchs and celebrities.