The government aims to increase the royalty percentage, currently set at 2%, which is considered the lowest compared to what other companies pay for mining exploitation in different countries.
Today, the official installation of the negotiation table for a new concession contract with Minera Panama took place.
The Minister of Commerce and Industries, Ramón Martínez, who leads the negotiating team appointed by the President of the Republic, emphasized that various topics related to economic, fiscal, environmental, labor, and social aspects will be addressed during the sessions. The goal is to ensure that the mine’s operation complies with international standards of best practices.
Martínez warned that if an agreement is not reached on the proposed terms, the possibility of negotiating with another company will be explored, making it clear that the current conditions will not continue.
Minera Panama, on the other hand, expressed in a statement its confidence that the negotiation process will be transparent, rigorous, and in the country’s best interest. The company hopes that the interests of the State and acquired rights will be respected, seeking the best results for Panama.
Manuel Aizpurúa, spokesperson and member of the company’s negotiating team, emphasized the importance of the negotiation table being a space of respect for private investment and legal certainty, with the aim of achieving a beneficial outcome for all parties involved and for the country. COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM COBRE PANAMA, MINERIA COBRE; FIRST QUANTUM
