Panama Mining Chamber Insists On Prompt Decision
Date
1/21/2025 11:11:09 PM
(MENAFN- Newsroom Panama)
The future of the Cobre Panamá project in the country is at stake amidst arbitration demands from the company and measures to avoid environmental impact, more than a year after the cancellation of the contract between the Panamanian State and Minera Panamá.
While uncertainty persists over the future of the mine, the government of President José Raúl Mulino indicated that in 2025 it would evaluate whether to open negotiations for a new contract or proceed with a plan for the definitive closure of the mine. In this regard, the Panama mining Chamber (Camipa) insists on the urgency of approving a plan for preservation and safe management that avoids further impacts on the ecosystem.
One of the biggest concerns is the storage time of more than 120 thousand tons of copper concentrate that remain in the mine. Meanwhile, the Ministry of Environment (MiAmbiente) authorized the removal of ammonium nitrate.
In this regard, Gutiérrez questioned the fact that to date there is no public information regarding the results of the audit.
Meanwhile, the Minister of the Environment, Juan Carlos Navarro, reiterated the current administration's commitment to oversee everything related to the issue of the mine, which is no longer in operation.
“Since there is no mining, what is this material doing here? That is why it must be removed. More clear proof that there is no mining at the Cobre Panama mine,” said Navarro.
Given this situation, Camipa calls on the Executive to meet with Minera Panamá soon and make a decision.
“We have always asked this government not to make the same mistake as the previous government of not calling the Chamber of Mining. If we are talking about mining, we should call the experts and the experts are in the Chamber of Mining,” he stressed.
Amid the government's decision, there are arbitration demands from the company, which they say are increasing:“The demand started with $20 billion, right now it exceeds $21 billion and is increasing,” he says.
For constitutional lawyer Marco Austin, although the country should not delay this issue any further, they should not sit at a table under pressure from the mining company.
“They have the right to file arbitration claims. Personally, I had the opportunity to review the entire contract and I do believe that Panama wins the arbitration, because the contract established that the relationship could be terminated in the event of a decision by the respective jurisdictional authority, in this case the Supreme Court of Justice, and that this was no obstacle for Minera Panama to file a claim,” Austin noted.
The Supreme Court of Justice (SCJ) declared the contract between the State and Minera Panamá unconstitutional on November 28, 2023.
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