Minera Panamá announces possible suspension of operations

1,954Views 0Comments Posted 20/11/2023


Minera Panamá announced the "possible temporary suspension of operations" in a statement on Monday morning, November 20.

"Due to the illegal blockages by small vessels that have taken place in the international port of Punta Rincón - site of unloading of materials and supplies used for the operation of the mine, Minera Panamá has reduced its operations to a processing train of ore and expects to run out of supplies for the power generation plant approximately mid-week beginning today, November 20, 2023" ; said the Minera Panamá statement.

Minera Panamá points out that "the blockades are preventing the delivery of supplies necessary to operate the power plant. Regardless of the needs of operations, the safety and well-being of Minera Panamá's workforce is the priority of the company".

"Local authorities are present and continue to monitor and evaluate the situation to achieve a definitive return to maritime operations. If illegal actions continue to prevent the supplies necessary to operate the power plant, the company will reduce the remaining processing train this week and will temporarily suspend production," Minera Panamá indicated.

The mining company points out that it represents more than 2% of Panama's total active population and collaborates with local suppliers worth almost 20 million dollars per week.

"The general economic contribution of the mine to the State of Panama is estimated at more than 50 million dollars per week, the equivalent of around 5% of GDP. This income could be affected if the operation of the mine does not continue. The company "continues to reserve all its local and international legal rights with respect to developments in Panama," Minera Panamá said.

The company reiterated " its willingness to open new spaces for dialogue, in order to address the concerns of the various sectors of society , and to create lasting relationships based on respect, cordiality, understanding, and mutual benefit."