President Laurentino Cortizo approved Law 406 this Friday, which approves the concession contract between the state and Minera Panamá.
Today’s plenary session of the National Assembly accepted bill 1100 with 47 votes for, 6 against and 2 abstentions.
This contract will have an initial duration of twenty years, commencing on December 22, 2021, with an option to request an extension for an additional twenty years if necessary.
A performance bond in the amount of USD 70,000 is provided, which will remain in effect for the duration of the concession and its extension, if any.
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.
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