Aftershocks Rock Panama Following Largest Quake In Decades

(MENAFN- Live Mint) (Bloomberg) -- Panama was struck by its strongest earthquake in more than seven decades on Friday, prompting the evacuation of the capital's international airport and sending people fleeing buildings as powerful aftershocks rattled the country.

The 7.7-magnitude quake struck Herrera Province, more than 120 miles (193 kilometers) southwest of the Panama Canal, according to the US Geological Survey. Economic losses in the region are likely to exceed $1 billion, according to an early USGS estimate.

The earthquake was the strongest to hit that part of Panama since at least 1951, according to the US National Earthquake Information Center. It struck at a depth of 12.6 kilometers, the USGS said.

A magnitude-6.6 aftershock hit west of the initial quake late Friday afternoon, according to preliminary USGS readings. Another eight aftershocks have been recorded at magnitude 4.8 strength or higher.

The first earthquake was caused by a rupture along a major plate boundary on the Ring of Fire, the seismically active zone that encircles the Pacific Ocean. The mechanism resembled a strike-slip event, in which tectonic plates grind past each other horizontally, according to Jonathan Tytell, a geophysicist at the US National Earthquake Information Center.

“It was a very messy event, and shallow, which is not good,” Tytell said.“The energy is right there at the surface and it doesn't really have time or distance to dissipate.”

The USGS initially registered an 8.0 magnitude before revising it. Panama's geological institute reported the quake as a 7.2-magnitude.

Immediately following the quake, the Pacific Tsunami Warning Center said waves of one to three meters (3.3 to 9.8 feet) above tide level were possible along parts of Panama's coast. As of 2:42 p.m. local time, all warnings had been lifted.

The Panama Canal said operations were continuing normally, with emergency protocols activated and technical teams inspecting facilities for possible damage.

The quake was felt as far away as several Colombian cities, including Medellín, according to local media. In Panama, people evacuated buildings, businesses, schools and homes across several regions, local newspaper La Prensa said.

President José Raúl Mulino said the government was mobilizing personnel, resources and aid for people affected by the quake, and ordered ministries and public agencies to respond immediately and take preventive measures. Emergency officials were expected to hold a news conference to provide an update on the impact.

People stood barefoot or shirtless in the streets as aftershocks continued, said Cibeles De Freitas, a communications representative for the local unit of First Quantum Minerals Ltd.

“There's a lot of fear because we're not used to earthquakes in Panama,” she said.“We're OK, just very scared.”

First Quantum Minerals didn't immediately provide a comment when asked about any impact on its partially idled copper mine, located about 140 kilometers north of the epicenter.

Tocumen International Airport temporarily suspended air operations and evacuated passengers and administrative areas as a precaution while officials assessed the safety of the airport and its control tower. Some flights are being diverted to Colombia and Costa Rica, according to flight-tracking website Flightradar.

Panama City's Metro said lines 1 and 2 were temporarily shut down because of the earthquake.

Panama's firefighters said there were no reports of deaths or injuries in the immediate aftermath of the quake. AES Panama, a unit of AES Corp., the country's top electricity supplier, said through a spokesperson that its hydroelectric, gas-fired and renewable power plants were operational.

Activities at the Trans-Panama oil pipeline were continuing normally after the quake, according to a statement from its operator.

Friday's quake was the latest to hit Latin America in recent months.

Venezuela was struck by twin earthquakes in late June that killed nearly 6,500 people and caused widespread destruction along its northern coast. In Colombia, an Aug. 10 quake killed more than 330 and prompted an economic emergency as damage was estimated at roughly $10 billion.

Colombian President Abelardo de la Espriella expressed solidarity with Panama and offered assistance following Friday's earthquake.

“Panama is not alone,” De la Espriella said in a post on X, adding that Colombia was ready to provide whatever assistance was needed.

--With assistance from James Attwood, Valentine Hilaire, Jose Orozco, Brian K. Sullivan, Michael McDonald and Lucia Kassai.

(Updates with aftershock from fourth paragraph. A previous version corrected the name of the US National Earthquake Information Center in the fifth paragraph.)

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