Panama''s catastrophic mining deals| MENAFN.COM

Tuesday, 28 June 2022 01:10 GMT

Panama''s catastrophic mining deals


(MENAFN- Newsroom Panama) What happened with the Molejón mine, which was under the responsibility of Minera Petaquilla, thanks to a law contract granted in the administration of Ernesto Pérez Balladares (1994-1999), obliges the country to make a thorough review of the concessions for this activity. It was precisely a PRD government that signed the contract with the mining company, which years later was declared unconstitutional by the Supreme Court. In addition to being dangerously damaging to the area where the mine was installed, Panama was technically unprepared - and years later still is not - to inspect, supervise, audit, and monitor large mining projects. The result of that contract was catastrophic for the country, which perceives such miserable benefits that, under current legislation and the contracts that have been signed, It is only worth it for entrepreneurs who — yes — earn fortunes at the expense of the country's resources. Now we see how the Molejón project failed to comply with its obligations to the State, such as the payment of royalties,  renewal of the environmental bond, environmental protection measures, and fees to the Social Security Fund. At least, the PRD has the opportunity to remove what has been granted. - LA PRENSA, May 15

 

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