According to Ramón Martínez, Minister of Commerce and Industries, the mining company has accepted all the environmental aspects proposed by the Government during the negotiations.
During the renegotiation of the concession contract for the Cobre Panamá project, carried out by the State and Minera Panamá, now First Quantum Minerals Ltd, a series of environmental agreements have been reached, thus marking the conclusion of discussions on this topic at the negotiating table. The Minister of Environment, Milcíades Concepción, explained that the achieved agreements include:
- Establishment of an office within the mine’s concession area responsible for supervising, controlling, and overseeing environmental, labor, and other relevant activities.
- Obligation to maintain a permanent maintenance program for all mining infrastructure and project-related services.
- Development of a Contingency Plan and installation of a real-time monitoring system to respond immediately to environmental incidents and emergencies.
- Creation of a database about the soil condition.
- Presentation of a Mine Closure and Post-Closure Plan.
The Minister of Commerce and Industries, Ramón Martínez, affirmed that the points discussed at the table were proposed by the Government and accepted by the mining company. “I want to reaffirm that the designated team is acting for the benefit of national interests, seeking to obtain the maximum possible benefits from copper exploitation at this mine. Copper is Panamanian, just like our full territorial sovereignty,” emphasized the Minister of Commerce and Industries. Additionally, he added that one of the objectives of the Panamanian State is to align mining contracts with international standards to ensure the best practices in mineral exploitation activities.
Regarding the labor issue, Martínez informed that the next point of discussion with Minera Panamá will focus on labor negotiations. He explained that the proposal presented by the Minister of Labor, Doris Zapata, pertains to labor-related aspects concerning the percentage of foreign workers allowed to participate in this activity. The Minister of Commerce and Industries highlighted that they are currently discussing these topics and cannot provide a conclusion at this moment.
To carry out the renegotiation, the Government of Panama has convened an elite commission composed of governmental representatives, national negotiating experts, and a group of international experts. COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM
