The Minister of Commerce and Industry, Ramón Martínez, stated that the mining company has accepted all the environmental proposals put forward by the Government during the negotiations.
During the renegotiation of the concession contract for the Cobre Panamá project, carried out by the State in collaboration with Minera Panamá, now First Quantum Minerals Ltd, a series of agreements have been reached in the environmental sphere, which has concluded the discussion on this topic at the negotiation table. According to the Minister of Environment, Milcíades Concepción, among the achieved agreements are:
Establishing an office within the mine concession area to oversee, control, and supervise environmental, labor, and other relevant activities. Implementing a continuous maintenance program for all mining structures, infrastructures, and project-related services. Developing a Contingency Plan and installing a real-time monitoring system with stations for an immediate response to environmental incidents or emergencies. Creating a database on soil condition. Presenting a Mine Closure and Post-Closure Plan. These agreements reflect the commitment of both parties to address and fulfill the environmental aspects related to the project, ensuring a responsible and sustainable approach to mineral resource exploitation.
The Minister of Commerce and Industry, Ramón Martínez, confirmed that the points discussed at the table were proposed by the Government and accepted by the mining company without objections. Martínez emphasized that the designated team works closely aligned with national interests, whose main goal is to maximize the benefits derived from copper exploitation in this mine. The Minister reiterated that copper belongs to Panama and is a symbol of our full territorial sovereignty. Furthermore, Martínez underscored that the Panamanian State commits to align mining contracts with international standards to ensure that the best practices are followed in the development of mineral extraction activities.
Regarding the labor issue, Martínez informed that the next point to address with Minera Panamá will focus on labor negotiations. “Our proposal today was based on an initiative presented by the Minister of Labor, Doris Zapata, regarding labor-related aspects related to the percentage of foreign workers’ participation in this activity. These are the topics we are currently discussing, so I cannot offer a conclusion at this time,” stated the Minister of Commerce and Industry. To carry out the renegotiation, the Government of Panama has convened a high-level commission composed of government representatives, local negotiating experts, and a prominent range of international experts. COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM
