The government is seeking to increase the royalty percentage, currently set at 2%, which is the lowest compared to what mining companies pay for exploitation in other countries.
Today marked the official start of negotiations for a new concession contract with Minera Panamá, establishing a dialogue platform.
The Minister of Trade and Industries, Ramón Martínez, leading the negotiation team appointed by the President of the Republic, emphasized that during these sessions, topics related to economic, fiscal, environmental, labor, and social aspects will be addressed, aiming to ensure that the mine’s operation adheres to international standards of best practices.
Martínez cautioned that if an agreement is not reached on the proposed terms, they would consider negotiating with another company. According to the minister, the current conditions will not be maintained.
On their part, Minera Panamá released a statement expressing their confidence that the process will be transparent and thorough, benefiting the country and respecting state interests and the rights acquired by the company. They are seeking a mutually beneficial outcome for all parties involved and for Panama.
Manuel Aizpurúa, spokesperson and member of the company’s negotiation team, emphasized the importance of the negotiation table being a space of respect for private investment and legal security, with the goal of achieving an outcome in which everyone wins. COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM
