Panama’s congress has approved a modified version of the government’s contract with a local subsidiary of Canadian mining company, First Quantum. The contract is for the operation of the Cobre Panama copper mine. The approval follows extended negotiations and anti-mining protests in the country.
The bill received 44 votes in favor, five against, and two abstentions in a third and final debate. Originally agreed upon by President Laurentino Cortizo’s administration and First Quantum in March, the contract required approval from Congress before it could be enacted.
Modifications were made to the contract, addressing concerns raised by critics. Clauses allowing the subsidiary to restrict airspace and extend its concession to include additional minerals such as gold, silver, and molybdenum, were removed.
The Cobre Panama copper mine has been the subject of controversy in Panama due to concerns over its environmental impact. Opponents of the mine have expressed worries about potential damage to the local ecosystem.
Overall, the approved modified contract signifies progress in the government’s efforts to balance economic development through mining while ensuring environmental protection. The negotiation process demonstrates the country’s commitment to addressing public concerns and finding a mutually beneficial agreement.
Sources:
– Reuters: [source’s title]
– The Panama News: [source’s title]
– Mining Technology: [source’s title]
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2023-10-20 17:00:30
#Panama #Approves #Modified #Contract #Quantums #Copper
