The Minister of Commerce and Industries, Ramón Martínez, stated that the mining company has accepted all the environmental measures proposed by the Government during the discussions.
During the renegotiation of the concession contract for the Cobre Panamá project, managed by the State and Minera Panamá (now First Quantum Minerals Ltd), a series of environmental agreements have been reached, marking the conclusion of discussions on this topic at the negotiating table. The Minister of Environment, Milcíades Concepción, explained that the achieved agreements include the following aspects:
- An office will be established within the concession area of the mine responsible for supervising, controlling, and overseeing environmental, labor, and other relevant activities.
- There will be an obligation to maintain a permanent maintenance program for all mining works, infrastructure, and services related to the project.
- A Contingency Plan will be developed, and a real-time monitoring system will be installed to respond immediately to environmental incidents and emergencies.
- A database on soil condition will be created.
- A Mine Closure and Post-Closure Plan will be presented.
The Minister of Commerce and Industries, Ramón Martínez, stated that the points raised at the table were proposed by the Government and accepted by the mining company. Martínez emphasized that the designated team is acting in the interest of the country, aiming to obtain the greatest possible benefits from copper exploitation at this mine. Additionally, he highlighted the importance of preserving territorial sovereignty and the value of copper as a Panamanian resource. The Minister added that the State of Panama aims to align mining contracts with international standards to ensure best practices in mineral exploitation activities.
Regarding the labor sphere, Martínez anticipated that the next topic to be discussed with Minera Panama will be labor negotiations. The Minister of Commerce and Industries explained that his current proposal is based on a proposition put forth by the Minister of Labor, Doris Zapata, addressing labor-related aspects related to the percentage of foreign workers allowed in this activity. These are the ongoing discussion topics at the moment, and I cannot provide a conclusion at this time, added the Minister of Commerce and Industries.
To carry out the renegotiation, the Government of Panama has convened an elite commission composed of governmental representatives, national negotiating experts, and a wide range of international experts. COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM
