The government rejects pressure mechanisms by Minera Panama

He Ministry of Trade and Industry issued a statement this Thursday deploring Minera Panama’s stalling tactics to sign a new agreement that is fair to the country.

According to the government body, the Canadian company has not shown commitment to holding talks and has not kept its word.

“They refuse to sign an agreement with previously accepted conditions, engaging in stalling tactics that dragged out the process for over a yeartrying to change an agreement in which the Panamanian state will not receive the fair compensation it deserves for its natural resources,” the statement said.

Faced with this situation, the government requires Minera Panama to comply with the regulations and processes necessary for the safe operation of the mine.

It also asks that you refrain from creating unrest and uncertainty around the stability of the thousands of workers and suppliers who depend on the mine.

“The use of pressure mechanisms does not contribute to improving the level of understanding that both the state and the MPSA require for a fair and satisfactory relationship between national interests and foreign investments,” adds MICI.

The government emphasizes that it maintains its position that the signing of the agreement represents the best interest of the Panamanian people, respecting the rights of the company and its workers.

On the other hand, as they announced a few days ago, Minera Panama confirmed this Thursday that it has suspended mineral processing because the Maritime Administration of Panama did not allow them to continue loading copper concentrate in the port of Punta Rincon.

As a result of these concentrate loading restrictions, the company had no choice but to suspend processing activities at 12:00 p.m. on February 23.

The mine assures that, if they receive the approval, they will have storage capacity for another 15 days, while the negotiations are ongoing, the developments of which they consider significant.