LatinNews Daily - 24 April 2025

*Panama’s President José Raúl Mulino has ruled out offering a new mining contract law to resolve the dispute relating to Panama’s largest mine, Cobre Panamá. Owned by Canadian mining company First Quantum Minerals (FQM), Cobre Panamá was shuttered in late 2023 under the previous government led by former president Laurentino Cortizo (2019-2024) after the supreme court struck down a new contract with FQM. This followed major unrest amid complaints the contract had been rushed through without transparency and concerns regarding its environmental impact. Speaking at a recent industry event held by Panama’s main business lobby Cámara de Comercio, Industrias y Agricultura de Panamá (CCIAP), Mulino said Panama would not be offering a new mining contract law to resolve the Cobre Panamá dispute, and that the government remains undecided as to the way forward for the mine. “I can't tell you yet what path [we] will follow. The only path that won't exist is a contract law,” he said, adding that this would need to go through the national assembly and the current national assembly “won’t do it”. He said however that the government would “do what it takes to establish something that is a real association”, without providing further details. Mulino added that it is “crystal clear” that the mine “belongs to Panama.” FQM recently announced that it had discontinued arbitration proceedings against Panama, which led to speculation regarding renewed negotiations with the Panamanian government.

End of preview - This article contains approximately 239 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial