According to Ramón Martínez, Minister of Commerce and Industries, the mining company has accepted all the environmental points proposed by the Government.
During the renegotiation of the concession contract for the Cobre Panamá project, carried out by the State in collaboration with Minera Panamá, now known as First Quantum Minerals Ltd, a series of environmental agreements have been reached, allowing the discussion on this matter at the debate table to conclude. According to the Minister of Environment, Milcíades Concepción, among the agreements reached are:
The establishment of an office within the mine’s concession area responsible for overseeing, controlling, and supervising environmental, labor, and other relevant activities. The obligation to maintain a permanent maintenance program for all infrastructures, mining works, and project-related services. The development of a Contingency Plan and the installation of a system with real-time monitoring stations for an immediate response to potential environmental incidents or emergencies. The creation of a database to record the state of the soil. The presentation of a Mine Closure and Post-Closure Plan. These agreements reflect the commitment of both parties to ensure environmental protection and compliance with required standards in the project’s development.
Minister of Commerce and Industries, Ramón Martínez, stated that the discussed points at the table were proposed by the Government and fully accepted by the mining company. Martínez reiterated that the designated team acts in line with national interests, including maximizing the benefits from copper exploitation in this mine. The Minister emphasized that copper is a Panamanian resource and its exploitation is conducted within the framework of our full territorial sovereignty. Furthermore, he indicated that one of Panama’s State objectives is to align mining contracts with international standards to ensure the best practices in mineral exploitation activities.
Regarding the labor issue, Minister Martínez announced that the next point for discussion with Minera Panamá will be labor negotiations. “Our proposal today was based on an initiative presented by the Minister of Labor, Doris Zapata, related to labor aspects linked to the percentage of foreign workers’ participation in this activity. These are the topics we are discussing, and therefore, I cannot come to a conclusion at this moment,” stated the Minister of Commerce and Industry. To carry out the renegotiation, the Government of Panama has convened an elite commission composed of government representatives, local 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
