Negotiations  with Minera Panama stalled – Government has other options

Panama’s Ministry of Commerce and Industry (Mici) reported  Friday, December 9, that the negotiations with Minera Panamá for the conclusion of a new contract “have not advanced sufficiently and are at a standstill.”

Without a contract, Minera Panamá sold $2,285 million in minerals extracted from Donoso

A month ago it was publicly announced that Minera Panamá must sign the concession agreement for the Cobre Panamá mine no later than December 14, 2022; Otherwise, “the Government of Panama will proceed with alternative measures for the operation of the mine.”

“We will only accept an agreement that is fair for the Panamanian people and consistent with international standards,” said the Mici statement. He reiterates that the new contract must “faithfully reflect” everything agreed between the parties last January.

An attempt was made to find out what would be measures would be applied in the event that the mining company does not comply, but the ministry reported that they will offer more information after December 14.