The Minister of Commerce and Industries, Ramón MartÃnez, stated that 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, conducted by the State and Minera Panamá (now First Quantum Minerals Ltd), a series of agreements in the environmental field have been reached, concluding the discussion on this topic at the negotiating table. The Minister of Environment, MilcÃades Concepción, detailed the agreements reached, which include the creation of an office within the mining concession area responsible for supervising, controlling, and overseeing relevant environmental and labor activities. Furthermore, there is an obligation to maintain a permanent maintenance program for mining works, infrastructure, and project services. It also includes the development of a Contingency Plan and the installation of a real-time monitoring system with stations for a prompt response to environmental incidents or emergencies. Additionally, it was agreed to compile a database on soil conditions and present a Mine Closure and Post-Closure Plan.
As the Minister of Commerce and Industries, Ramón MartÃnez, affirmed, the points presented at the negotiation table were proposed by the government, and the mining company accepted them in their entirety. The minister reiterated that the appointed team acts in line with national interests, which include maximizing the benefits derived from copper exploitation in this mine. MartÃnez emphasized that copper is a Panamanian resource, just as our territorial sovereignty is. He also highlighted that the Panamanian state has set out to align mining contracts with international standards to ensure the best practices in mineral exploitation activities.
MartÃnez anticipated that the next topic to be discussed with Minera Panamá will be in the labor sphere. He indicated that today’s proposal was based on an initiative from the Minister of Labor, Doris Zapata, which focuses on labor-related aspects regarding the percentage of foreign workers who can participate in this activity. These are the topics under discussion, so I cannot provide a conclusion at this time, stated the Minister of Commerce and Industry. To carry out the renegotiation, the Panamanian government has convened an elite commission composed of government representatives, national negotiating experts, and a selection of international experts.
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