A Study on the Impact of the Closure of Cobre Mine Panamá was Delivered to the Government by CoNEP.
The National Council of Private Enterprise (CoNEP) delivered to the government the study “Socioeconomic repercussions of the closure of Cobre Panamá operations”, prepared by its Economic Analysis Unit, reported the Ministry of Economy and Finance (MEF).
The document was received by the Interministerial Commission, made up of the Vice Minister of Environment, Oscar Vallarino Bernat; the Vice Minister of Economy, Eida Gabriela Sáiz; the Chief of Staff of the Ministry of Economy and Finance, María Cristina Vilá de Van Hoorde; and the Chief of Staff of the Ministry of Commerce and Industries, Deidamia Batista. Representing CONEP were its president, Raúl Joaquín Montenegro Vallarino; former presidents Tony Fletcher and Severo Sousa; economist Fanny Salmunido; and executive director Analisa Montenegro.
The MEF explained that, according to the association, the report organizes its findings into 17 impact groups and analyzes the effects of the cessation of operations on key variables such as economic growth, employment, local supply chain, public finances, exports and environmental monitoring. The study covers the national to the provincial level. Its release comes days after the Minister of Economy and Finance, Felipe Chapman, announced that the evaluation committee will present President José Raúl Mulino with a final document in the coming weeks containing recommendations on the future of the mine located in Donoso, Colón.
The Interministerial Commission acknowledges the contribution of CoNEP and considers that this investigation constitutes the most important, rigorous and serious exercise in technical analysis carried out to date on the real economic and social consequences of the abrupt closure of the copper mine for the Republic of Panama. The central contribution of the study is that it places in its exact dimension the meaning of the activity in the lives of Panamanians, distinguishing between the inhabitants of the region surrounding the mine and those who are foreign to the area.
It should be noted that the studies submitted will form part of the basis on which the ministers will design the most viable recommendations for the future benefit of all Panamanians. Given this importance, the Commission decided to conduct a preliminary analysis of the findings before the follow-up meeting, which will be held in the coming days, with the direct participation of the three ministers and the board of directors of CoNEP and the specialists who prepared the study. The MEF stated that the Commission has not made any decision on the future of the operation; its mandate is to analyze and make recommendations to the President of the Republic.
