He Ministry of Trade and Industry (MICI) reported that 12 administrative decisions had been signed rejecting requests to extend requests for metal ore extraction and requests for metal ore exploration.
This is in accordance with Law 407 of November 3, 2023which prohibits the granting of concessions for exploration, extraction, transport and benefit from the exploitation of metal mining in the entire state territory.
Through the statement, the subject stated in detail that in accordance with the current laws of the Republic of Panama, the administrative actions of all public entities must be carried out with strict adherence to the legal procedure, respecting essential guarantees such as timely notification of the parties. interested .
At the same time, they reported that National Mineral Resources Administration sent to National Legal Advice Authority 18 new resolutions rejecting requests and canceling concessions for metal, which are examined before the signature of Minister Federico Alfaro.
On November 3, the president Laurentino Cortizo signed the so-called Moratorium Law, a few hours after the National Assembly approved Law 1110.
The initiative came about after civil society and various unions demanded a moratorium on mining, amid protests and street closures in protest. Law 406 of the contract between the state and Minera Panamá.
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.
