Minera says that she has heard the people’s indignation and insists on dialogue

Cobre Panama has announced that it will review the decision on the unconstitutionality of the Law 406 contractissued by the Supreme Court of Justice, and reiterated its willingness to engage in constructive dialogue to define the way forward.

According to the company, it has operated consistently transparently and strict adherence to Panamanian legislation and the contract she signed with the Government was aimed at promoting mutual economic benefit and guaranteeing environmental protection.

On Monday, Cobre Panamá reported that before the arbitration, what he did was informed of the opening of a dialogue with the Panamanian government which according to international agreements is allowed within 90 days.

Notice, assures, does not constitute the commencement of arbitration rather, he tries to avoid it by agreement between the parties.

Panamanian copper He assures that he heard the people’s cryafter more than a month of protest against the contract that regulates her presence in the country, so she is attentive to the dialogue for what will come next.

“We will remain attentive to a constructive dialogue that allows us to define a course of action that satisfies that cry, as well as the interests and legitimate expectations arising from a bona fide investment in Panama more than 20 years ago,” the statement reads.

Cobre Panama insisted on memory its economic contribution to the country, which exceeds $50 million per week, equivalent to 5% of gross domestic product (GDP)with more than 7,000 employees and 2,000 suppliers to whom it contributes nearly $20 million a week.

The The magistrates of the Panamanian Supreme Court unanimously declared the contract unconstitutional and the decision is added to another similar statement of the first contract in 2018.

He the legal framework reformed in recent weeks does not allow the government to negotiate a new contract with the mining companyso activists protesting the deal said it was appropriate to activate a plan to close the Petaquilla mine.

Without leaving this aside, the impact that international arbitration can have.