7 Panama mining concessions facing closure

Seven metallic mineral exploration concessions are in the process of cancellation after the approval of Law 407 mining moratorium in the country, according to the Ministry of Commerce and Industries (MICI).

In addition, requests for an extension of extraction must be rejected, according to the provisions of the new law.                   In this case there is the company ‘Minera Cerro Quema SA”, a project located in the province of Los Santos, which had requested an extension.

“With the moratorium, “Cerro Quema” must close, we do not know why the closure has not yet been decreed,” said Raisa Banfield, environmentalist, and member of “Panamá Vale más Sin Minería”. Another case is that of Vera Gold Corporation, SA, which operates in Cañazas, Veraguas.

In the case of the “El Remance Mine” in San Francisco, Veraguas, owned by the company Greenfield Resources Inc, the list of exploration concessions is in the process of cancellation, according to MICI.

On November 3, President Cortizo sanctioned the Mining Moratorium Law which prohibits the exploration, extraction, transportation, and benefit of metal mining in Panama.