Is there money for mine closure in the 2024 budget?

When the General State Budget for 2024 is planned, the contribution that is copper mine.

The The negotiations were concluded in March 2024 and there was time to include those contracted revenues, however, now the reality is different, to the extent that the Government had to adjust that budget.

Now there is no exact answer as to what funds will be needed for execution closure of the mining project.

He accepted it Deputy Minister of Economy, Carlos Gonzálezwho reported that based on the results of the study currently being conducted, it will be necessary to determine what funds are needed for an orderly closure.

There is a fund that is reserved and whose fate is not yet defined.

Really, the first contribution of Minera Panamá, in the amount of 567 million dollarspublished on November 16, between royalties and taxes, has been collected and is in the state treasury, González said.

However, as he said then President Laurentino Cortizothis fund is held in a restricted account at the National Bank of Panama.

What will be done with this resource?

It’s something that It has not yet been defined whether it will be related to the process that follows the termination of work copper mine.

This was said by the Deputy Minister of Economy This is not an issue that will be resolved in one year.but it will be in the medium term.

“If the costs are higher than calculated, another strategy will be soughtGonzález said.

It is estimated that $1.5 million will be needed to implement the mine closure plan alone, but, Closing the project itself could be around $800 million.