With 44 votes for, 5 against and 2 abstentions Plenary session of the National Assembly on October 20, in the third debate, he approved Bill 1100, which gives consent to the Mining Concession Agreement concluded between State and Mining Company of Panama, SA until 2041.
On this way, Account 1100 approved at the regular session this Friday, passes into the hands of the executive power for the appropriate sanction by the President of the Republic, Laurentin Cortiz Cohen.
During the discussion, Minister of Trade and Industry, Federico Boyd, supported the aforementioned contract and reiterated the state’s commitment to monitoring, control and compliance with the environmental protection standards established in the aforementioned document.
Last October 10 andl Cabinet Council approved the contract between the state and Minera Panamá SA, with the changes indicated in Decision of the Commission for Trade and Economic Affairs of the National Assembly.
These changes included the elimination of contract and expropriation clauses. Likewise, that clarified that Minera Panamá can only explore, extract and exploit copper and its related minerals in the concession area in the districts of Donoso and Omar Torrijos. It is clear in the contract that they cannot extract minerals outside the concession area.
The clause that allowed Mining of Panama request airspace restrictions. As for the framework contract, at clause was also removed, clarifying that the terms of this agreement apply only to Minera Panamá.
It has been deleted Minera Panamá’s right to ask the government to classify the identities of end users with limited access. Instead, this information is determined to be subject to the general laws of Panama.
Likewise, the clause in the contract that provided for the state to grant a concession for the exploration of gold, silver and molybdenum was eliminated. Through the approved changes, the contract does not allow any other concessions for Panama Mining.
The contract clearly states that Office for Special Inspections It is another inspection and monitoring tool. The state retains all its constitutional and legal powers of inspection and supervision and there is no limit to the number of officers who can supervise work.
A clause is included reaffirming that nothing in the Treaty limits the sovereignty of the Republic of Panama over its territory.
Yesterday, the National Assembly voted with 45 votes in favor, 9 against and 2 abstentions, in the second debate on Bill 1100, which gives consent to the Mining Concession Agreement concluded between State and Mining Company of Panama, SA
In the permanent convocation, the representatives claimed that the aforementioned contract is suitable, that it is balanced in terms of legal security, the labor sector, social benefits, and that the advocates “do not” use political positions.
Likewise, it was warned that the refusal of Panama would cause millions of losses that could threaten the national property, with a possible social explosion due to the cessation of the company’s operations; therefore, the dismissal of about 40 thousand workers, as well as the disinterest of the international community in investing in the country.
They claimed that the development of mining exploitation is sustainable for the environment in all the hectares that will be explored, that it will bring benefits to the surrounding population in the future, wages not less than B/.350.00, in support of the segment of more than 300 thousand servers.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
