He Ministry of Trade and Industry (MICI) He reported that First Quantum Minerals Ltd. and Minera Panamá SA, and Franco-Nevada Corporation sent two notices of intent to file arbitration claims against the Republic of Panama.
These claims would be presented International Center for Settlement of Investment Disputes under the Panama-Canada Free Trade Agreement (FTA).
For its part, Panama responded that it has fulfilled all its obligations under international law and Panamanian law and that it is ready to defend its national interests.
Since November 24 last, the magistrates of Supreme Court of Justice (CSJ) They remain in plenary to resolve claims of unconstitutionality against Law 406 of October 20, 2023, which approves the contract between the state and Minera Panamá.
The approval of this law triggered a wave of protests and street closures led by civil society, trade union members and various unions, who demanded the repeal of the law.
They introduced themselves 10 lawsuits for unconstitutionality Law 406; However, the CSJ discussed the first two, which were accepted for reasons of economy of procedure and according to the rule of Article 2566 of the Judicial Code.
While waiting for the decision of the nine judges of the CSJ, dozens of people are keeping vigil at the headquarters of this entity, which is located in Ancón.
Panama confirms that it is ready to defend its national interests. #WorkForPanama pic.twitter.com/JQfdLPzsnd— Ministry of Trade and Industry of Panama (@MICIPMA) November 26, 2023
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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