He Ministry of Trade and Industry (MICI) reported on the signing 45 new administrative decisions which flatly rejects requests to explore the country’s metal ores.
This is in accordance with Law 407 of November 3, 2023which prohibits the granting of concessions for the exploration, extraction, transportation and benefit from the exploitation of metal ores throughout the state territory.
The subject stated that 45 new refusal decisions are being notified to companies that submit a request.
Also, it was announced that in the Azuero region there are eight new applications for the exploitation of metal mines and three applications for the renewal or extension of contracts on the exploitation of metal mines for districts Macaracas, Las Tablas and Tonosí, Los Santos province.
Likewise, MICI signed a total 25 resolutions which rejects requests for the extraction of metallic minerals and cancellation of the contract due to expiration in the province of Veraguas,
It was also clarified that they are currently being developed by National Mineral Resources Administration, the last 15 resolutions in accordance with Law 407 from 2023; However, they reiterate that every document or administrative act must be in accordance with the due notification of the interested party and the procedure established by law.
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.
