Business Chamber calls for fast action on mine closure and economic fallout

Following the ruling of the Supreme Court, concerning Law 406  “it is imperative that a series of steps and processes be quickly taken that establish the bases to carry out an orderly and responsible closure of mining operations in Donoso Colón,” said Panama’s Chamber of Commerce, Industries, and Agriculture (Cciap), on  December 3.

“Time and a significant investment, it is urgent to immediately define the steps that will lead us towards an ideal scenario,” says the organization.

The business union pointed out that, in the absence of a studied and agreed upon action plan, “it is necessary to urgently activate a multi-sector technical committee, led by individuals of recognized credibility and supported by various civil groups.”

The committee must carry out a process where a comprehensive action plan is defined in environmental, legal, and economic aspects. Furthermore, it is essential that it has the corresponding legitimacy so that its decisions are binding, stressed the Chamber which highlighted that this is an “eminently technical matter that must be addressed seriously and quickly.”

Fast action
The union indicated that this matter must be organized “in a matter of days so that the country quickly has a clear route of what should happen,” so that the outcome is not an environmental disaster or the illegal exploitation of areas, such as has happened in other countries.

The Chamber also highlighted that, in addition to addressing the future of mining activity, it is essential to consider a recovery plan for the affected economic sectors, as well as for students who have experienced delays and the country’s international reputation that has been harmed. In turn, it is “necessary to design a preparation plan for the potential loss of investment grade and its future recovery.”

The unanimous decision that was communicated by the magistrates in recent days had the country in expectation, since since the approval of the law and publication in the Official Gazette, on October 20, Panama was immersed in an economic and social crisis. conditioned by road blockades and demonstrations at the national level. As announced by the full Court, the controversial rule violates 25 articles of the Constitution.