$2.5 million for emergency Petaquilla clean up

FUNDS from the National Assistance Program (PAN) will be used by the The Ministry of the Environment for “an emergency” clean up the mine at Donoso, Colón, operated by troubled Petaquilla Gold, a branch of the Canadian mining firm Petaquilla Minerals.

The work will cost an estimated $2.5 million and will consist of treating rain water that has accumulated in tailings containment ponds.
The work is intended to prevent environmental contamination if the ponds were to fail.
Ministry officials said that the work isan emergency. A complete cleanup of the site will cost an estimated $30 million.
PAN fund are being used because they can be accessed quickly, and the Ministry of the Environment does not have the budget to perform the work. The ministry will oversee compliance, but PAN officials will distribute the funds.
Petaquilla Gold will be forced to reimburse the state for any money that is spent on maintenance work. The company stopped production in 2013 due to financial issues. It also owes nearly 700 workers a substantial amount in back wages.
Due to these issues, the company could lose its concession reports La Prensa.