Business chamber concerned over “erratic turn” in mining talks

Panama’s Chamber of Commerce, Industries (Cciap)views with concern the erratic turn in negotiations between the National Government and Minera Panama.

The business union stated, Sunday, December 18, that when the government announced in January 2022 the completion of an agreement with Minera Panama, they considered it “an important milestone for the Republic because it is an economic activity that represents a significant source of wealth.” for the country”.

The chamber acknowledges that the negotiations have been complex, however, they assert that the latest statements from the National Government leave more questions than answers about the future of the project and the economic and reputational consequences that the country could face

The Cciap through its weekly bulletin made an urgent call to the parties to redirect the negotiation, focusing on “win-win” formulas, through which a fair balance is achieved that recognizes the State what it deserves, and the company a benefit that takes into account the conditions and risks associated with the activity carried out.

“ Otherwise, we run the risk of annihilating an activity that represents 3.5% of Panama’s GDP; being at stake not only the investment that the State itself promoted but also the future of an economic activity that, well developed, can be instrumental for Panamanians, ”says the statement.