‘There are proven mining reserves, why let them go to waste?’

The future of open pit mining in Panama poses challenges for those involved in this industry.

Alfredo Burgos, a member of the Chamber of Mines of Panama, emphasized that the direction of this union aims to create a Mining Administration of a more technical nature, make reforms in the Law on Mineral Resources and restart the process.

“There are 6 mining projects with proven reserves equivalent to $300,000 million between copper and gold. It’s a resource we have, why let it go to waste?” Burgos told television media.

The engineer points out that no other activity in the country brings dividends mining.

In this sense, Burgos pointed out thatmining sites They are located in the areas of greatest poverty in the country.

According to the manager, the mine idea also contemplated sustainable development with electricity, road and water projects, particularly in the interior of the country.

Burgos also warns that the mining moratorium law is unconstitutional because the Magna Carta allows mining.

“It was badly done and the moratorium law is unconstitutional. The constitution allows mining. The constitution needs to be changed,” he said.

On the other hand, Burgos emphasized that the process of closing Cobra Panamá could take a minimum of five years and require resources between 600 and 1 billion dollars.

The expert emphasized that A mine of this size cannot be closed lightly, He also warned that after an analysis with international experts, the balance could shift in favor of First Quantum in the arbitration.

In this arbitration, Panama would be represented by international lawyers. The company chooses an arbitrator, the government chooses another, and between the two chooses a third, who presides over the arbitral trial.