Canadian Copper Mining Company Minera Panama and Its 2+ Decade Old Petaquilla Mining Operation

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21-year old mining contract  ruled unconstitutional

Posted on September 24, 2018 in Panama

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A  1997 mining concession contract between the  Panama State and the Minera Petaquilla company has been ruled unconstitutional by the Supreme Court 10 years after the action was presented.

The unconstitutionality action was presented by the  Ambiental Advocacy Center (CIAM), for violating several articles of the National Constitution related to human rights and the conservation of the environment.

The contract dating from 21 years ago led  to the creation of Petaquilla Gold, which was canceled by the State, as well as Minera Panamá that operates in Donoso, Colon.

Sonia Montenegro, executive director of CIAM said “We regret that the decision is late, but believe that it is an environmental achievement for the country

 

https://www.newsroompanama.com/environment/panama-3/21-year-old-mining-contract-ruled-unconstitutional

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The Panamanian Government comes out in defense of Canadian mining investment

Wed, 09/26/2018 - 17:54

The Panamanian government came out today in defense of the contract that allows the Canadian company Minera Panama to continue with the development of a copper mine started more than 20 years ago, despite the fact that the Supreme Court (CSJ) declared the law that supports it unconstitutional.

"After reviewing this ruling, which is still subject to various procedural stages," the Ministry of Commerce and Industry (MICI) "considers that the mining concession contract signed between the State and the company Minera Petaquilla SA, (Minera Panamá) on February 16, 1996, and its extension, remains in effect in all its parts," the entity said in a statement.

He also said: "we respect the decision the CSJ has," and warned "the MICI, as the entity responsible for the exploitation of mineral resources and the attraction and promotion of investment in Panama, is giving Attentive follow-up to the case".

The maximum Panamanian court declared days ago the unconstitutionality of Contract Law 9 of February 25, 1997, which approves the contract between the State and the company Minera Petaquilla, S.A. (today Minera Panama).

But clarified that "the aforementioned ruling only declares in its operative part the unconstitutionality of Law 9 of February 25, 1997, however, does not rule on said concession contract."

It warned that the copper mine of Minera Panama "is one of the most important projects in our country, with the largest private investment in our history, which exceeds 6,000 million dollars."

"Currently, it is the largest private employer in the country with an active workforce of more than 12,000 workers and has made purchases from Panamanian suppliers exceeding $ 1,100 million." In the future, the company estimates that once the plant goes into production the Copper exports could reach up to 2 billion dollars annually," it noted.

After also describing the infrastructures that are being built, it maintains that for this reason on December 30, 2016 it renewed the concession for 20 more years.

Likewise, it justifies that "the company is in its legitimate right to make the pertinent legal considerations and we hope that they are analyzed in strict law and in compliance with our laws" and the MICI assures that it is committed to "guarantee the legal security of investments" and the promotion of Panama as a strategic center for foreign investment in the region."

Yesterday, the Panamanian Mining Chamber expressed its "deep concern" about the ruling that declared the law that protects the Minera Panama project, in charge of the Canadian Firts Quantum, unconstitutional.

The Chamber presented a legislative history regarding mining in Panama and concluded that "the merits of the CSJ's argument to declare the Contract Law unconstitutional" has no validity.

"The affectations and future damages in social environmental matter and of public interest that are argued in the unconstitutionality lawsuit filed 10 years ago do not agree with the current reality,"said the institution.

Canadian mining company First Quantum said Tuesday in a brief statement that it considers that the Supreme Court's ruling against the law that guaranteed the mining concession in 1997 "does not affect" its project.

"Minera Panama, a subsidiary of the company, understands that the decision of the CSJ only affects the enactment of Law 9 and does not affect the mining concession contract itself, which remains in effect and therefore allows the continuity of development of the Panama Copper project," said First Quantum, which expects to start mining next year.

 

https://www.panamatoday.com/panama/panamanian-government-comes-out-defense-canadian-mining-investment-7954

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Judicial Ruling Against Mining Company

Arguing that the basic principles of public procurement were not complied with, in Panama the contract between the State and the company Petaquilla Minera has been declared unconstitutional.

Tuesday, September 25, 2018

The legal dispute began in 2009, when the Environmental Advocacy Center (CIAM) filed an unconstitutionality appeal against the contract that grants a twenty year concession to Cerro Petaquilla to exploit and sell gold, copper and other mineral resources.

Nine years later, Law 9 of February 25, 1997 has been declared unconstitutional by the Supreme Court of Justice and, according to the court ruling, the concession did not represent the best interests of the State. When the decision is published in the Official Gazette, the contract will cease to exist.

See also "Metalliferous minerals market in Central America"

In relation to the repercussions that the ruling could have for the Panamanian government, Juan Carlos Araúz, former president of the Bar Association, told Laestrella.com.pa that " ...This decision could result in economic claims being made against the State. 'It would not be surprising if this ruling triggers a conflict in international arbitration tribunals over the damages suffered by the company.'"

Regarding the issue, Jorge Obón, spokesperson for the company, explained that " ... the mining companies have invested more than $10 billion in the development of this activity in the province of Coclé. 'They can not leave thousands of workers out of work or leave the legal security of foreign investors in the country in limbo.'"

 

https://www.centralamericadata.com/en/article/main/Judicial_Ruling_Against_Mining_Company

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Mining giant reacts to Panama court ruling

Posted on September 26, 2018 in Panama

 

Minera Panama has built its own port and power station

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Minera Panama, a subsidiary of First Quantum Minerals Ltd, understands that the recent decision of the Supreme Court   over  a Petaquilla  mining concession  recent only affects the promulgation of Law 9 and does not affect the mining concession contract itself, which remains in effect and therefore allows the continuity of the development of the Cobre Panama project says a  First Quantum  press release issued on Tuesday, September 25

Minera Panama is in the process of obtaining and formally examining the ruling and its applicability and is working with the appropriate parties to identify the appropriate legal resources. Such remedies would need to be analyzed by the Supreme Court.

The Cobre Panama project employs more than 12,600 people, of whom approximately 1,500 come from the neighboring communities of Donoso and La Pintada. The  $7.5 billion project is the largest private investment in the history of Panama.

 

https://www.newsroompanama.com/news/panama/mining-giant-reacts-to-panama-court-ruling

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Panamanian employers ask to protect legal security after ruling on mining

Sat, 09/29/2018 - 20:24

One of the main business associations of Panama said today that the judicial ruling that declares unconstitutional the law that endorsed a mining concession two decades ago is "worrisome" and affects the legal security of the country.

The Chamber of Commerce, Industries and Agriculture of Panama (CCIAP) said Friday in a statement that it is necessary to strengthen the legal security of the country, since it "depends on our ability to attract employment-generating investments (...) and the The Supreme Court must be the guarantor of this."

The Supreme Panamanian declared unconstitutional the "Contract Law 9 of February 26, 1997" that endorsed a concession for the extraction of gold, copper and other minerals granted to Canadian Minera Panamá in the Petaquilla area, a hill located in the district of Donoso, in the Caribbean province of Colón.

The ruling was issued after the Environmental Advocacy Center (Caim), an environmental NGO, filed an unconstitutional appeal against the law in 2009, considering that the bill was harmful to the Panamanian State and to the country's natural resources.

The CCIAP claimed on Friday that "it is worrisome that the decision on the process in question has taken almost a decade", and declared that this delay "confirms the purpose of continuing to promote the changes we promote in the administration of justice, through constitutional reforms".

The concession granted to Minera Petaquilla, which after several sales changed its name to Minera Panama, expired in February of last year, but the current government decided to extend it for another 20 years, until February 28, 2037, as published in the Official Gazette. 

Minera Panama, which belongs to Canadian First Quantum, is currently developing a project on the Caribbean coast of Panama known as Cobre Panama, which is considered the largest private investment in the country's history (6,300 million dollars) and employs more than 12,600 people.

The mine will start operations next year and is expected to export more than 320,000 metric tons of copper per year, equivalent to approximately 2,000 million dollars, according to the company.

"The ruling created unnecessary uncertainty in the largest foreign direct investor that has existed in the history of the country," said the Chamber of Commerce, chaired by Jorge Juan de la Guardia.

Both the mining company and the Panamanian government have said that the judicial ruling does not affect the Donoso copper mine because what is declared unconstitutional is the law that was passed to give legal certainty to the agreement and not the concession itself.

The Minister of Labor and Labor Development, Luis Ernesto Carles, said on Thursday that "the workers of the Cobre Panama mining project do not have to worry that their jobs are not at risk."

The environmental association, however, considered Monday in a statement that the "ruling implies that the extension granted to Minera Panama is null and void" because "the accessory follows the fate of the main issue."

The Donoso project also includes a 300-megawatt power generation plant, an electric transmission line, an international port and a mineral processing plant.

The mining sector represents 2.5 percent of Panama's gross domestic product (GDP), but the country's Mining Chamber estimates that it will reach 9.5 percent when Donoso begins its copper exploitation.

 

https://www.panamatoday.com/panama/panamanian-employers-ask-protect-legal-security-after-ruling-mining-7979

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Businessmen ask the Panamanian Supreme Court to guarantee legal security for mining

Mon, 12/17/2018 - 12:48

A business chamber in Panama asked today the Supreme Court to hear the appeal for clarification of a ruling against the law that gave life to a mining concession more than 20 years ago, and that may affect a copper project of 6,300 million dollars soon to start operations.

It involves the Panama Copper project, owned by the Canadian company First Quantum, "the largest foreign investment in the history of the country of 6,300 million dollars," recalled this Sunday the Chamber of Commerce, Industry and Agriculture of Panama (CCIAP).

The Supreme Court of Justice (CSJ) determined last September in a ruling that the "Contract Law 9 of February 26, 1997" endorsing the mining concession it’s unconstitutional, contract that has been sold several times over the years, and now belongs to the company Minera Panamá, subsidiary of First Quantum.

This ruling responded to a resource presented almost a decade ago by the Center for Environmental Advocacy (CIAM), a reputed Panamanian environmental association that has said that it cancels the concession to First Quantum.

But the Canadian firm said it believes that the judicial decision "does not affect" its project, although last October it presented a pack of legal remedies, including an appeal for clarification of the ruling.

CCIAP highlighted on Sunday the magnitude of the mining project in figures, saying that "it will contribute 4% to the Gross Domestic Product (GDP) with approximately 2,000 million in exports from its operational phase", which is scheduled to begin in the first months of 2019. He also pointed out that the project "shows an advance of 83%, generating 13,000 employed people, 30 million dollars in salaries; an investment of more than 1,100 million dollars in purchases to 1,400 local suppliers, and 120 million dollars annually in worker-patronal quotas to the Social Security Fund ".

Minera Panamá "has built an international port, a 300MW power plant, a mineral processing plant and the mine itself," added CCIAP, bringing together more than 1,800 companies from 15 economic sectors in Panama.

"All of this positive impact on the national economy is uncertain, since it's pending on the clarification from the Supreme Court of Justice on the ruling related to the Petaquilla Law Contract, although Minera Panama is a different company," he warned.

CCIAP "hopes that, in order to guarantee the legal security enshrined in the laws of the country, the Supreme Court of Justice will attend to the clarification requested."

"It is known that the legal security that prevails in the country depends on our capacity to compete for employment-generating investments, which is why we must strengthen and consolidate it, instead of subjecting it to dangerous risks." The case of Minera Panamá and its Panama Copper project is a timely example of both aspects," he argued.

 

https://www.panamatoday.com/panama/businessmen-ask-panamanian-supreme-court-guarantee-legal-security-mining-8691

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Minera Panama copper exports start mid-year

 

Posted 18/02/2019

 

The first shipload of copper concentrate from the Minera Panamá, mine  in Donoso, Colón, will leave in mid-year. and spearhead a significant boost to  Panama’s economy.

Manuel Aizpurúa, spokesman for the subsidiary of Canada's First Quantum, during a ceremony, to mark operation of the mills on Monday, February 11. said that the project has the capacity to export 320,000 tons of copper concentrate.

The copper project has been a $6 billion investment.

Minera Panama has a concession of 13,000  thousand hectares in one of the most wooded areas of the country, which sparked criticism over for the deforestation in the area.

The company says that only 5,000 hectares will be used, and at the end of the project, it will be reforested.First Quantum estimates that the plant will generate $2 billion in exports annually equivalent to 2.1% of the country's GDP.

 

https://www.newsroompanama.com/business/minera-panama-copper-exports-start-mid-year-1

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Countdown to the huge copper mine in Panama starts exporting

Tue, 02/19/2019 - 10:09

It is the most important private investment project in the history of Panama and one of the largest copper mines in the region: Cobre Panama is practically operational and is preparing for start exporting mineral concentrate from the second half of the year.

Nestled in a jungle and steep hill, in the area of Donoso, 200 kilometers north of the capital, this open-pit mine plans to export 320,000 metric tons of copper concentrate per year to full capacity, which in the international market it is equivalent to 2,000 million dollars.

The mine, which has a useful life of 34 years and which construction amounts to 6,300 million dollars, will triple Panamanian exports, which do not exceed 600 million dollars a year.

"This project is the largest foreign investment in the history of the Republic of Panama and the second most important infrastructure project, after the (interoceanic) canal and its expansion", Panamanian President Juan Carlos Varela said on Monday.

The president participated in the so-called "first grinding", a symbolic act in which it is commemorated that for the first time the copper rocks are being ground and with which the mining company warns potential buyers that it will soon start exporting.

Panama is thus entering the world copper market, a relatively stable commodity and increasingly used in the technology sector and in the construction of hybrid cars, according to analysts. Chile is by far the largest producer of copper in the world and China the main buyer.

The project director of the Canadian multinational First Quantum Minerals, Zenon Wozniak, acknowledged in the same act that "more than one thought it would be impossible" to move the mine forward when the company acquired the rights in 2013.

"Those who doubted said it was a very remote place, Donoso was isolated and the land was treacherous, it was too rainy and the country had no experience in copper mining, today we say to everyone who doubted they were wrong", the manager added.

The project, which has employed more than 13,000 people since it began, also includes the construction of an international port on the Caribbean coast from where ships loaded with copper will depart, a kilometric access road and a 300-megawatt power plant (MW).

Panama has placed much of its hopes on this copper mine to once again take the lead in economic growth in Latin America.

The majority of international organizations agree that the country, which a few years ago was the envy of the region with double-digit rates, will grow above 5.5% in 2019, more than one point more than last year, mainly thanks to the mine.

"Today (this Monday) we began a new economic era in our country, with a diversification of our pillars of economic growth and social development", said the Panamanian president.

The mining sector in Panama represents only 2.5% of the national economy, but the Chamber of Mining estimates that it will reach 9.5% of GDP when copper begins to be exported.

The history of this site, which also includes molybdenum and gold to a lesser extent, dates back to 1968, when it was discovered by an expedition from the United Nations. The Canadian Petaquilla Minerals obtained in 1997 a concession to exploit 13,000 hectares, but did not make any development and ended up selling the rights.

The work has gone through different vicissitudes since its inception, such as a long strike in demand for wage increases or a judicial ruling that annulled the 1997 mining concession, in addition to criticism from environmentalists for the alleged impacts on the environment of this megaproject.

 

https://www.panamatoday.com/panama/countdown-huge-copper-mine-panama-starts-exporting-9296

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Panama Wants More as Contract with Minera Stymied

The Minera Mine in Donosco

Posted 29/05/2019

A bill approving a contract between the Ministry of Commerce and Industries (MICI) and t Minera Panama) which has invested over $6 billion in the Panama economy. has been rejected by the National Assembly’s  Economy and Finance Committee.

The project was included in the agenda of extraordinary sessions convened, until June 30, by President Juan Carlos Varela.

Earlier committee chairman Nelson Jackson Palma (CD)  said the state should review the royalties it will receive for the extraction of copper by First Quantum, owner of Minera Panama, which operates in   Donoso,  Colon province. 

The commission began the discussion of bill 766 on Wednesday, May 29. Jackson considered that the environmental damage does not justify the 2% royalty that the company will give to the State and commented that, as a minimum, it should receive 10%.

First Quantum is preparing to start the export of copper concentrate in  June and this year it expects to sell between 140,000 to 170,0000  tons of copper concentrate.

According to the 1997 contract approved under the presidency of Ernesto Pérez Balladares, for the extraction of copper, gold, and silver, the State will receive 2% of the gross sale of each mineral.

Last year, the Supreme Court ruled that contract unconstitutional. According to the MICI, the ruling, to date, has not been enforced, "because a series of memorials presented, on the one hand, by Minera Panama, including clarification and reconsideration against the  ruling and, for  another,by the MICI, which submitted a request for clarification of the ruling, all of which are still awaiting a ruling by the Supreme Court . "

 

https://www.newsroompanama.com/environment/panama-wants-more-as-contract-with-minera-stymied

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$6 billion investor in Panama reacts to National Assembly snub

Posted 30/05/2019

Minera Panama  is the biggest private investor   in the history of Panama and is  respectful  of national laws and trusts  in the legal security of the country

 The statement  by the company comes in response to the  Wednesday, May 29 rejection of a contract with the Panama State  by the  Economy and Finance Committee of the National Assembly

"We trust that the State will support the legal stability, necessary to boost the national economy, since, according to the forecasts of national and international experts, we are on track to contribute more than 3% to the growth of Panama's GDP as of 2020, "the company said.

Minera Panama said asserted that its operations in Panama are covered by current legislation, as well as by international investment protection treaties.

9000 employees
The mining conglomerate will continue to develop the Cobre Panama project, which currently employs more than 9,000 Panamanians, who develop and grow alongside the company.

In 2018, the Supreme Court declared unconstitutional the law that granted the concession for the exploitation of gold and copper to Petaquilla Mines now called Minera Panamá.

The Government argued that the ruling does not affect the concession.

 

http://$6 billion investor in Panama reacts to National Assembly snub

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Legal Certainty in Doubt

The decision of the Legislative Assembly to not endorse the bill that seeks to approve the contract between the government and Minera Panamá, shows the fragility of the contracts between the Panamanian state and companies.

Tuesday, June 4, 2019

The obstacles to the mining project date back several years, since the legal dispute began in 2009, when the Environmental Impact Center (CIAM) filed an appeal of unconstitutionality against the contract granting a 20-year concession to exploit and commercialize the gold, copper and other mineral resources of Cerro Petaquilla.

In October 2018 the contract Law 9 of February 25, 1997 was declared unconstitutional by the Supreme Court of Justice and according to the judicial ruling, the concession would not represent the best interests of the State.

See “Judicial Ruling Against Mining Company” and “Fragile Legal Certainty”.

The issue recently returned to the discussion table, since last May 29, after the negotiation reached the National Assembly, the Legislative Commission on Economy and Finance rejected in its entirety the contract between the State and Sociedad Minera Petaquilla S.A, currently Minera Panamá, arguing that it is "harmful to the country."

Nelson Jackson Palma, deputy president of this legislative body, said that the different communities in and adjacent to the mine are in extreme poverty and so far, have not been benefited, so it is necessary to review this contract more closely, explains a statement from the Assembly.
See full press release.

The president-elect, Laurentino Cortizo, will have to face this dispute. On the subject, he explained to Telemetro.com that "... It will be considered, the review should not take too long, are contracts that have their period. We consider it right that the new government should take on that responsibility, it is important, right now talking about beating the drum that contract is not good.

Cortizo added that "... the issue of legal security will be respected, but he warned that companies have to respect the right to review clauses by clauses in order to comply with contracts."

The business sector rejects these decisions. On the matter Jorge Juan de la Guardia, president of the Cciap, said to Elcapitalfinanciero.com that "... One of Panama's main assets, and which has been a tool to attract international capital, is its legal security; but these decisions send the wrong message to local investors and particularly to those from other latitudes."

See Elcapitalfinanciero.com article "Asamblea Nacional pone en peligro la estabilidad económica y la atracción de inversión extranjera" and the one of Telemetro.com "Cortizo revisará contrato con Minera Panamá 'respetando la seguridad jurídica'."

 

https://www.centralamericadata.com/en/article/main/Legal_Certainty_in_Doubt

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First Donosco copper shipment China  bound

Missy Enterprise carries first Minera Panama export

Posted 14/06/2019

The first 31,200 tons of copper concentrate extracted from the  Donsco mine operated by Minera Panama. the local operation of the multinational  First Quantam, left Panama on Friday, June 15.

The copper concentrate is heading to foundry plants in China, aboard the Panamanian flagged ship Missy Enterprise,. The vessel was anchored in the port of Punta Rincon, Donosco built by the mining company to export the material extracted from the land.

The first export will benefit Panama with $1million  in royalties plus the tolls it pays as it passes through the Panama Canal.

The  $6.3 billion investment in the mine puts  First Quantum among the five largest miners in the world.

Outgoing president  Juan Carlos Varela, made his second visit  this year to the plant He was also at Donoso when, in  February, tests were done on the mills that grind the stone that is extracted from one of the three open pit pits

Varela, in the opening ceremony, highlighted that "we are facing the largest private investment  ever in the country."

 

https://www.newsroompanama.com/business/first-donosco-copper-shipment-china-bound

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Copper Mine Begins Exporting

In Panama, the Canadian company First Quantum, owner of the copper mine in the province of Colon, sent the first vessel with 31,200 tons of copper.

Friday, June 14, 2019

The Panamanian mine whose construction began in 2013 and demanded about $6.3 billion investment, expects to export 320 thousand tons of copper concentrate per year, announced from the beginning of the year that in June would begin to export its product.

You may be interested in “Copper Wire: Purchases up to September 2018”

From the First Quantum statement:

Punta Rincón, Colon, June 14, 2019. Hundreds of Panamanian workers, authorities and members of neighboring communities proudly left the port of Punta Rincon, Province of Colon, the Panamanian flag ship that carries the first 31,200 tons of copper concentrate, marking the beginning of exports of this mineral from Panamanian lands.

The export marks the second milestone of the entry into operations of the only Panamanian world-class mine; the first was the celebration of the first milling on February 18.

"Copper is the Future. This copper, 100% Panamanian, will contribute to the world reaching the sustainability required by providing the necessary material for the generation of clean energy; but it also represents the opportunity to offer a future full of opportunities to neighboring communities, to our collaborators and to Panama" said Tristan Pascall, General Manager of Cobre Panama.

Read full statement (In Spanish).

 

https://www.centralamericadata.com/en/article/main/Copper_Mine_Begins_Exporting

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Panama’s first copper export transits canal

MISSY Enterprise is now on the high seas heading for China.

Posted 23/06/2019

The "Missy Enterprise" transited the Panama Canal on Friday, June 21 carrying the first 31,200 tons of copper concentrate exported from the country.  to the world.

It is the first of a total of twelve projected transits this year which will raise $1.5 million in tolls as the cargoes head for the Asian continent.

The ship began loading the concentrate on Friday, June 14. marking the introduction of Panama as a copper ore exporting country.

The mine is located in Donoso,  Colon, and represents a $6.3 billion investment by Minera Panama, subsidiary of Canadian First Quantum Minerals.

The project has a 300 MW power plant connected to the national electricity grid and in an international port of two terminals in Punta Rincón.

Between 125 and 250 thousand tons per day are processed in the mill, which the company says, is expected to process between 85 and 100 million tons annually.

Among the contributions that the company has made to Panama is the generation of more than 10,000 jobs for Panamanians in its construction phase, It made a contribution of $118 million to the Social Security Fund, in 2018.

In addition to more than $58 million to the sustainable development of the communities of Donoso and La Pintada; it t has also allocated more than $34 million to the country's environmental conservation.

 

https://www.newsroompanama.com/business/panamas-first-copper-export-transits-canal

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China takes 60% of Panama copper exports

China bound

Posted 19/12/2019

Sixty percent of the copper extracted from the Canadian owned open-cast mine in Donosco, Colón is destined for China the world’s biggest consumer of the mineral.

Of the 84, 223 tons of copper that were extracted from the material that has been exported through Puerto Rincón since last June, 60% has gone to smelters located in the second-largest economy in the world reports La Prensa

China consumes 3.453 billion tons of about 50% of the world's production of copper.

Data from Minera Panama, a subsidiary of Canada's First Quantum, which since 2013 has the rights to 13,000 hectares in Donoso, reveal that, in addition to China, the remaining 40% of the copper is mined in the Colón has been going to Japan, South Korea, the Philippines, India, Spain, and Germany.

First Quantum announced last September the start of commercial production of copper concentrate, after the plant operated for more than 90 days, at 70% of capacity.

Canal revenue
Until the end of November, Minera Panama had dispatched 17 ships loaded with concentrate, which is the material obtained after crushing the stone. Three boats leave monthly from Puerto Rincón, and since the beginning of the operation $2.5 million dollars have been paid in tolls to the Panama Canal.

"All shipments, from the first, are counted to pay royalties to the State, since they are paid on the billing, once the penalties corresponding to the transfer have been deducted, humidity, among other factors that affect," said spokesmen for Minera Panama.

First Quantum‘s third-quarter financial report said that the Panama Copper project had brought $210 million to its total income, which resulted in a profit of $36 million.

Under the terms of the contract, signed in 1997, the State receives  2% royalties for the gross sale of all minerals extracted from the project, where, in addition to copper and silver, there are molybdenum deposits.

In addition to the 84 ,023 tons of copper, the mining project has generated 32,024 ounces of gold.

During the third quarter of the year, the company processed 12.8 million tons of ore, obtaining a recovery of 87%. Due to the pace registered until September, First Quantum estimates that its project in Panama will process between 140,000 and 175,000 tons of copper this year.

 

https://www.newsroompanama.com/business/china-takes-60-of-panama-copper-exports

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Minera Panama generated $524 million in sales last year

Posted 17/02/2020

Minera Panama subsidiary of the Canadian First Quantum, produced 147.480 thousand 480 tons of copper concentrate, 60.074 ounces of gold and 1.1 million ounces of silver in  2019 from its site in Donosco. Twenty ships sailed from Puerto Rincón, in the province of Colón, loaded with the material

According to First Quantum's financial report, as of December 31, 2019, the Copper Panama project generated gross sales of $524 million which boosted the total transactions of the Canadian company, which expected a decrease due to the low yield obtained from other projects.

For the sale of copper concentrate, Minera Panama obtained $431 million while for gold it generated $79 million and for silver $14 million.

60% of the material extracted from Donoso has finished up in China, while the remaining 40% has been shipped to refineries in Japan, South Korea, the Philippines, India, Spain, and Germany.

Under the terms of the contract signed in 1997, and that is still in legal limbo after being declared unconstitutional in September 2018 by the Supreme Court, the State will receive 2% royalty for the gross sale of all minerals that are extracted from the project, where there are also molybdenum deposits.

Additionally, the company must pay a series of fees for the land exploited during the 20-year concession.

 

https://www.newsroompanama.com/business/minera-panama-generated-524-million-in-sales-last-year

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March 24, 2020 / 12:35 PM

First Quantum eyes stake sale in Panama mine - sources

Clara Denina, Jeff Lewis

LONDON/TORONTO (Reuters) - Miner First Quantum Minerals (FM.TO) is considering selling a minority stake in its flagship Cobre Panama copper mine to reduce debt, two banking sources familiar with the discussions said.

First Quantum’s possible move comes as global miners scramble to bolster finances strained by the coronavirus pandemic, which has battered stocks and copper prices CMCUc1. First Quantum shares are down more than 50% this year.

Total investment in Cobre Panama, located 120 km (75 miles) west of Panama City, up to 2019 stood at $6.3 billion, according to the company.

With a current market capitalization of $2.4 billion, First Quantum trades around three times its earnings before interest, taxes, depreciation and amortization, compared to an average of eight times for mining companies. Its net debt at the end of 2019 stood at $8.8 billion.

The Canadian miner will have to do more than refinance its debt after talks to sell down its Zambian mines stalled because of the outbreak, said one of the sources.

First Quantum did not respond to a request for comment on Tuesday. Sources declined to be identified as the discussions are confidential.

Cobre Panama, with proven copper reserves of 3.18 billion tonnes and a 40-year mine life, is 90 percent owned by First Quantum.

The company said earlier on Tuesday that it would cut pay for some senior staff and review spending after some workers at the mine contracted the virus. In a statement announcing the moves, it said it had an estimated $1.2 billion in cash and credit on hand.

The miner earlier this year strengthened its takeover defense, weeks after Jiangxi Copper spent $1.1 billion for an 18% stake in it..

One of China’s biggest copper producers, state-backed Jiangxi this month added 3.8 million shares, or 0.8%, to its 18% stake in First Quantum, a regulatory filing showed.

The Canadian miner is studying options to maintain control, the sources said, even though a standstill agreement prevents Jiangxi Copper from acquiring more than 20% of the shares.

Global miners Rio Tinto Plc (RIO.L) and BHP (BHP.AX) are keen to grow their copper businesses and have capacity for deals, analysts said.

But Panama is an unknown jurisdiction, the second source said. Travel restrictions could also make it harder to hold face-to-face discussions and tour mine sites.

 

https://www.reuters.com/article/us-firstquantum-m-a/first-quantum-eyes-stake-sale-in-panama-mine-sources-idUSKBN21B2W0

[Moderator_02]

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First mineworker virus death

Posted 05/04/2020

A worker from the Minera Panamá company affected by COVID-19 has died.

Israel Cedeño,  deputy director of Planning of the  Health Ministry (Minsa), confirmed the death of the worker and said that two weeks ago they sent a group of workers to quarantine. hotels in of Coclé

Cedeño added that others remained working and following up inside the mine by doctors from the mining company’s clinic.

A sanitary fence was installed approximately two weeks ago, the day there was a massive departure of miners fleeing the coronavirus threat.

 

https://www.newsroompanama.com/business/first-mineworker-virus-death

[Moderator_02]

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800 obreros continúan en mina de cobre

El 4 de abril se registró la primera defunción vinculada al Covid-19 dentro del proyecto minero, y desde entonces la mina ha estado aislada por orden del Minsa.

 

Alex E. Hernández V.

20 abr 2020 - 12:00 AM

La minera proyecta mantener en operación la terminal de Puerto Rincón y la central eléctrica durante la suspensión ordenada por el Ministerio de Salud. Archivo

En el proyecto de Cobre Panamá, incrustado en las montañas del distrito de Donoso, provincia de Colón, todavía quedan 800 trabajadores por desalojar como parte de las medidas de cierre de la planta de Minera Panamá.

Cuando el Ministerio de Salud (Minsa) ordenó el cierre del proyecto, tras registrarse la primera defunción a raíz del coronavirus (Covid-19), en la mina de cobre operada por Minera Panamá habían 2 mil colaboradores.

El Sindicato Industrial de Trabajadores y Trabajadoras de la Construcción de Minas y Desarrollo de la Minería, (STM ) ha exigido en múltiples ocasiones que todos los trabajadores sean desalojados del proyecto, levantado en un área de 13 mil hectáreas que está bajo el control desde 2013 de la empresa canadiense First Quantum, dueña de Minera Panamá.

La empresa ha informado que los 800 colaboradores que todavía permanecen en Donoso, serán evacuados cuando cumplan los 14 días de aislamiento ordenado por el Minsa.

“Los comedores fueron cerrados y ahora los alimentos son entregados en las habitaciones de los trabajadores, y se continúa con las labores de desinfección”, informó la empresa.

De acuerdo con la empresa , de los 2,000 trabajadores que estaban en el área de concesión, mil 200 ya fueron retirados de la mina.

Minera Panamá, subsidiaria de First Quantum, indicó que continúa el proceso de desinfección del proyecto. Cortesía

De este grupos, 700 ya regresaron a sus casas y 500 están cumpliendo la cuarentena en hoteles de playa ubicados entre Santa Clara y Farallón, en el Pacífico panameño, antes de llegar a sus hogares.

La empresa, el Minsa y los trabajadores ya se reunieron para revisar el plan que se ejecutará en los próximos días y realizar las inspecciones de los lugares desinfectados.

First Quantum informó a sus accionista que el cierre ordenado por el Minsa alcanzaba las operaciones de extracción y producción de concentrado de cobre, pero que esperaba mantener activos los trabajos en la terminal de Puerto Rincón y la planta generadora de energía, que tiene capacidad para generar 300 megavatios de energía.

Carlos González, vocero de STM, comentó que la empresa debe establecer junto con las autoridades de salud el número de trabajadores que necesitará para mantener activa la planta de energía y cuántos empleados se utilizarán para las labores de mantenimiento.

La minera indicó que el periodo de cuidado y mantenimiento de todas sus instalaciones tendrá un costo semanal entre 4 millones y 6 millones de dólares.

“La situación se ha agravado en los últimos días con la confirmación de 2 nuevos casos en el campamento Cobre”, indicó el STM.

Para reducir el renglón de costos durante la pandemia respiratoria, la compañía señaló que podría acogerse al decreto No. 81, del 20 de marzo de 2020 que permite la suspensión de los contratos laborales, así como poner en pausa otros costos variables y fijos.

Keith Green, gerente de país del proyecto Cobre Panamá, comentó que los protocolos implementados por la empresa dieron resultados positivos y que el objetivo principal de estas acciones tiene como fin la protección de la fuerza laboral y de las comunidades aledañas al desarrollo minero.

El año pasado, 20 buques zarparon desde Puerto Rincón, en la provincia de Colón, cargados con el material que extrajo la empresa Minera Panamá de las tierras de Donoso.

La filial de la canadiense First Quantum, produjo 147 mil 480 toneladas de concentrado de cobre, 60 mil 74 onzas de oro y 1.1 millón de onzas de plata.

 

Moderator comment: Below is an unedited automated translation of the above news article.

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800 workers continue in copper mine

On April 4, the first death related to Covid-19 was registered within the mining project, and since then the mine has been isolated by order of the Minsa.

Alex E. Hernández V.
Apr 20, 2020 - 12:00 AM

<<FCPCAMXZHNELXFOGHL4ZEOVONQ.jpg>>
The miner plans to keep the Puerto Rincón terminal and the power plant in operation during the suspension ordered by the Ministry of Health. Archive

In the Copper Panama project, embedded in the mountains of the Donoso district, Colon province, there are still 800 workers to be evicted as part of the closure measures of the Minera Panama plant.

When the Ministry of Health (Minsa) ordered the project to close, after registering the first death due to the coronavirus (Covid-19), there were 2,000 collaborators in the copper mine operated by Minera Panamá.

The Industrial Union of Mining Construction and Mining Development Workers (STM) has repeatedly demanded that all workers be evicted from the project, built in an area of 13,000 hectares that has been under control since 2013 of the Canadian company First Quantum, owner of Minera Panamá.

The company has reported that the 800 collaborators who still remain in Donoso will be evacuated when they complete the 14 days of isolation ordered by the Minsa.

"The dining rooms were closed and now the food is delivered to the workers' rooms, and the disinfection work continues," the company reported.

According to the company, of the 2,000 workers who were in the concession area, 1,200 have already been removed from the mine.

<<GVNP4XXCVZGAHBY6IIM7SIDVGI.jpg>>
Minera Panamá, a subsidiary of First Quantum, indicated that the disinfection process of the project continues. Courtesy

Of these groups, 700 have already returned home and 500 are serving quarantine at beach hotels located between Santa Clara and Farallón, in the Panamanian Pacific, before reaching their homes.

The company, the Minsa and the workers have already met to review the plan that will be executed in the coming days and to carry out inspections of the disinfected sites.

First Quantum informed its shareholders that the closure ordered by the Minsa reached the operations of extraction and production of copper concentrate, but that it expected to keep active the works in the Puerto Rincón terminal and the power generation plant, which has the capacity to generate 300 megawatts of energy.

Carlos González, STM spokesperson, commented that the company must establish with the health authorities the number of workers it will need to keep the power plant active and how many employees will be used for maintenance work.

The mining company indicated that the period of care and maintenance of all its facilities will have a weekly cost of between 4 million and 6 million dollars.

"The situation has worsened in recent days with the confirmation of 2 new cases in the Cobre camp," said the STM.

To reduce the line of costs during the respiratory pandemic, the company indicated that it could avail itself of Decree No. 81, of March 20, 2020, which allows the suspension of labor contracts, as well as pause other variable and fixed costs.

Keith Green, country manager of the Cobre Panama project, commented that the protocols implemented by the company gave positive results and that the main objective of these actions is to protect the workforce and the communities surrounding mining development.

Last year, 20 ships sailed from Puerto Rincón, in the province of Colón, loaded with the material that the mining company Panama extracted from the Donoso lands.

The Canadian subsidiary of First Quantum produced 147,480 tons of copper concentrate, 60,774 ounces of gold and 1.1 million ounces of silver.

 

https://www.prensa.com/impresa/economia/800-obreros-continuan-en-mina-de-cobre/

[Moderator_02]

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Up to $6 million a week to maintain Canadian owned plant hit by virus

Posted 20/04/2020

Some 800 workers of the original 2,000 still remain at the Minera Panama copper plant in the Donosco district of Colon. The Ministry of Health (Minsa) ordered the project closed, following  the first death due to COVID-19

500 workers are currently isolated in hotels located in the Panamanian Pacific.

The Industrial Union of Mining Construction and Mining Development Workers (STM) has demanded that all workers be evicted from the project, controlled since 2013 by the Canadian company First Quantum.

The company says that the 800 workers who still remain in Donoso will be evacuated when they complete the 14 days of isolation ordered by the Minsa.

"The dining rooms were closed and now the food is delivered to the workers' rooms, and disinfection work continues," the company reported.

According to the company, of the 2,000 workers who were in the concession area, 1,200 have already been removed from the mine.

Of these groups, 700 have already returned home and 500 are serving quarantine at beach hotels located between Santa Clara and Farallón, before reaching their homes.

The company, the Minsa, and the workers have already met to review the plan that will be executed in the coming days and to carry out inspections of the disinfected sites.

First Quantum informed shareholders that the closure ordered by the Minsa reached the operations of extraction and production of copper concentrate, but that it expected to keep active the works in the Puerto Rincón terminal and the power generation plant, which has the capacity to generate 300 megawatts of energy.

Carlos González, STM spokesperson, commented that the company must establish with the health authorities the number of workers it will need to keep the power plant active and how many employees will be used for maintenance work.

The mining company indicated that the period of care and maintenance of all its facilities will have a weekly cost of between $4 million and $6 million

"The situation has worsened in recent days with the confirmation of 2 new cases in the Cobre camp," said the STM.

Labor contracts
To reduce costs during the pandemic, the company indicated that it could avail itself of a decree, which allows the suspension of labor contracts, as well as pause other variable and fixed costs.

Keith Green, country manager of the Cobre Panama project, said that the protocols implemented by the company gave positive results and that the main objective is to protect the workforce and the communities surrounding the  mining development.

Last year, 20 ships sailed from Puerto Rincón, , loaded with extracted minerals.

The Canadian subsidiary of First Quantum produced 147,480 tons of copper concentrate, 60,774 ounces of gold and 1.1 million ounces of silver.

 

https://www.newsroompanama.com/business/up-to-6-million-a-week-to-maintain-canadian-owned-plant-hit-by-virus

[Moderator_02]

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Minera Panama suspends 7000 worker contracts

Posted 23/04/2020

Minera Panamá the  Canadian controlled mining giant that has spent billions of dollars developing a mine to extract copper, gold, and silver from the mountains of Donoso, Colon, will suspend the labor contracts of  7000 workers due to the coronavirus pandemic.

The workers will not receive payment for the next fortnight. In an April 23  statement Minera, a subsidiary of Canadian First Quantum said that since April 6 it has not been producing copper concentrate, which halted exports of the mineral to more than 10 countries, especially China where 60%  is usually shipped.

The company said that an agreement was reached with Untramipa, which is one of the three unions that operate in the 13,000-hectare project. The agreement agreed to the payment of the fortnight of March 30, payment of accumulated vacations, and a bonus corresponding to 10% of the biweekly salary received by each employee. The payment of the first stage of the thirteenth month was also made.

Some 800 workers are still in the project waiting for their quarantine period to end. This week another worker's death was confirmed within the project He worker was part of the group of 500 employees who are isolated in beach hotels.

In the statement, the company indicates that by availing itself of Decree 81, workers maintain their labor rights and benefits, benefits that will be activated once operations are restarted. According to the Ministry of Labor and Labor Development, more than 70.000 thousand contracts have been suspended as a result of COVID-19.

Last year the mine generated sales of $ 524 million, after producing 147,840 tons of copper and 60,000 ounces of gold.

For the sale of copper concentrate, shipped from Puerto Rincón, Minera Panamá obtained $431 million, while for gold$79 million and for silver $14 million.

The company says that despite the sanitary fence imposed by the Panamanian authorities, it has paid $167 million to 1,400 suppliers in the country.

 

https://www.newsroompanama.com/business/minera-panama-suspends-7000-worker-contracts

[Moderator_02]

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Minera Panamá informa sobre muerte de otro colaborador a causa de Covid-19

Marggie Caballero

05 may 2020 - 05:22 PM

Cobre Panamá informó a víctima trabajó por más de cuatro años en el área de servicios de Campamento.

Otro colaborador de proyecto Cobre Panamá falleció este martes 5 de mayo en un hospital de la ciudad de Aguadulce, provincia de Coclé, a causa del Covid-19 así lo informó la compañía Minera Panamá en un comunicado.

La víctima trabajó por más de cuatro años en el área de servicios de Campamento de la empresa minera.

La empresa también informó que 13 de sus colaboradores ya se han recuperado del virus, sin precisar cuantos afectados hay hasta la fecha. Reiteraron que “siguen cumpliendo con todas las medidas y protocolos establecidos por el Ministerio de Salud”.

Con este caso, sería el cuarto trabajador de la minera que muere a causa del Covid-19.

Ayer, la Unión de Trabajadores de Minera Panamá reiteró su llamado al Gobierno, para que se concreten sus peticiones ante la situación del coronavirus, entre las que sobresale la solicitud de continuar la desinfección de las áreas de trabajo para poder volver a las labores.

A la fecha cerca 800 trabajadores todavía permanecen en el proyecto a la espera que culmine el periodo de cuarentena tras los casos registrados de coronavirus.

El proyecto con más de 7 mil obreros, suspendió operaciones desde el pasado 6 de abril a causa de la pandemia.

 

Moderator comment: Below is an unedited automated translation of the above news article.

Quote

Minera Panamá reports on the death of another collaborator due to Covid-19

Marggie Knight
May 05, 2020 - 05:22 PM

<<LP4HCPLOJFA55B4WWYYSF5GRJY.jpg>>
Cobre Panamá informed the victim that she worked for more than four years in the service area of Campamento.

Another Cobre Panama project collaborator died on Tuesday May 5 at a hospital in the city of Aguadulce, Coclé province, from Covid-19, as reported by the company Minera Panamá in a statement.

The victim worked for more than four years in the services area of the mining company's Camp.

The company also reported that 13 of its collaborators have already recovered from the virus, without specifying how many have been affected to date. They reiterated that "they continue to comply with all the measures and protocols established by the Ministry of Health."

With this case, he would be the fourth mining worker to die from Covid-19.

Yesterday, the Union of Workers of Minera Panama reiterated its call to the Government, so that its requests in the face of the coronavirus situation are fulfilled, among which the request to continue disinfecting the work areas to be able to return to work stands out.

To date, close to 800 workers are still in the project waiting for the quarantine period to end after the registered cases of coronavirus.

The project with more than 7 thousand workers, suspended operations since last April 6 because of the pandemic.

 

https://www.prensa.com/sociedad/minera-panama-informa-sobre-muerte-de-otro-colaborador-a-causa-de-covid-19/

[Moderator_02]

Quote

Minera pide al Minsa adelantar reapertura

El proyecto de cobre fue incluido en el bloque 6, que no tiene fecha de inicio.

 

Alex E. Hernández V.

06 jun 2020 - 10:23 PM

La empresa asegura que no se han registrado nuevos casos desde inicio de mayo. Archivo

 

Minera Panamá, subsidiaria de la empresa canadiense First Quantum, solicitó esta semana al Ministerio de Salud (Minsa) que reconsidere la decisión de incluir el proyecto Cobre Panamá en el bloque 6 de apertura económica que no tiene una fecha prevista para su reactivación.

Actualmente, mil trabajadores se encuentran en el proyecto ubicado en 13 mil hectáreas en las montañas de Donoso pero las operaciones de extracción están frenadas.

Manuel Aizpurua, vocero de Minera Panamá, indicó que la regional del Minsa confirmó que la compañía ha cumplido con los protocolos establecidos en la resolución 1257 del 4 de mayo, incluso ha instalado un laboratorio certificado por el Instituto Gorgas para realizar pruebas y detectar la presencia del coronavirus

“Hemos realizado más de 3 mil pruebas a los trabajadores que están en la mina y desde inicio de mayo no hemos detectado ningún caso positivo”, dijo.

Unos 200 trabajadores dieron positivo a la enfermedad respiratoria entre marzo y abril, 5 de estos obreros fallecieron a causa del virus.

Según Aizpurua, la razón por la que el Minsa incluyó al proyecto en el bloque 6 y no en el grupo 2, junto a la minería no metálica, es debido a la probabilidad de que las personas asintomáticas provoquen un rebrote del virus dentro de la mina.

En opinión del vocero de Minera Panamá, bajo este argumento no podría darse la apertura de ninguno de los 6 bloque establecidos por el Gobierno para reactivar la economía.

Las operaciones de la minera son complejas debido a la cantidad de personas que trabajan y duermen en el proyecto.

Desde mediados de abril, unos 4 mil 500 trabajadores que laboran en el proyecto de cobre tienen sus contratos suspendidos, situación que ha llevado al sindicato Unión de Trabajadores de Minera Panamá a solicitar al Minsa la apertura de la mina que en el primer trimestre de 2020 generó ventas por 398 millones de dólares, los cuales se suman a los 524 millones de dólares obtenidos el año pasado.

Minera Panamá ha dicho que necesitaría que el Minsa autorice el reingreso de entre 3 mil 500 y 4 mil trabajadores para ir retomando la operación gradual del proyecto.

De los mil trabajadores que hoy están en la mina, 325 están asignados a la operación de la planta termoeléctrica de 300 megavatios, y la red de transmisión y subestaciones dentro del proyecto.

Otros 100 trabajadores de diferentes especialidades se encargan de labores de prevención, vigilancia y monitoreos de zonas como tinas de relave y almacén de químicos, entre otros.

El Minsa también aprobó la entrada de 90 trabajadores para trabajos de limpieza en áreas comunes como comedores, y otro grupo son responsable de la operación del puerto de Punta Rincón, por donde ingresa el carbón que se utiliza en la central eléctrica.

Aizpurua comentó que en la minería no se pueden detener por completo las operaciones, porque eso afectaría los equipos. Actualmente los molinos, planta y equipo pesado se mantienen en un nivel mínimo de actividad.

 

Moderator comment: Below is an unedited automated translation of the above news article.

Quote

Minera asks Minsa to bring forward reopening

The copper project was included in block 6, which has no start date.

Alex E. Hernández V.
Jun 06, 2020 - 10:23 PM

<<QLK64MVSNNCCPHPEMOZSY3WI5E.jpg>>
The company ensures that no new cases have been registered since the beginning of May. Archive

Minera Panama, a subsidiary of the Canadian company First Quantum, this week asked the Ministry of Health (Minsa) to reconsider the decision to include the Cobre Panama project in block 6 of economic opening that does not have a scheduled date for its reactivation.

Currently, a thousand workers are in the project located on 13,000 hectares in the Donoso mountains, but the extraction operations are halted.

Manuel Aizpurua, a spokesperson for Minera Panama, indicated that the Minsa regional confirmed that the company has complied with the protocols established in resolution 1257 of May 4, and has even installed a laboratory certified by the Gorgas Institute to carry out tests and detect the presence of the coronavirus

"We have carried out more than 3,000 tests on the workers who are in the mine and since the beginning of May we have not detected any positive case," he said.

About 200 workers tested positive for respiratory disease between March and April, 5 of these workers died from the virus.

According to Aizpurua, the reason why the Minsa included the project in block 6 and not in group 2, along with non-metallic mining, is due to the probability that asymptomatic people will cause the virus to resurface within the mine. .

In the opinion of the Minera Panama spokesperson, under this argument, the opening of any of the 6 blocks established by the Government to reactivate the economy could not take place.

The mining operations are complex due to the number of people who work and sleep on the project.

Since mid-April, some 4,500 workers working on the copper project have had their contracts suspended, a situation that has led the union Unión de Trabajadores de Minera Panamá to request Minsa to open the mine in the first quarter of 2020 It generated sales of $ 398 million, which is in addition to the $ 524 million obtained last year.

Minera Panamá has said that it would need the Minsa to authorize the re-entry of between 3,500 and 4,000 workers to resume the gradual operation of the project.

Of the 1,000 workers in the mine today, 325 are assigned to operate the 300-megawatt thermoelectric plant, and the transmission grid and substations within the project.

Another 100 workers from different specialties are in charge of prevention, surveillance and monitoring of areas such as tailings basins and chemical warehouses, among others.

The Minsa also approved the entry of 90 workers for cleaning work in common areas such as dining rooms, and another group is responsible for the operation of the Punta Rincón port, where the coal used in the power plant enters.

Aizpurua commented that mining cannot completely stop operations, because that would affect equipment. Currently mills, plant and heavy equipment are kept at a minimum level of activity.

 

https://www.prensa.com/impresa/economia/minera-pide-al-minsa-adelantar-reapertura/

[Moderator_02]

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Mining Company: Legal Measures to Resume Operations

Minera Panama filed a protection action, because since April 6 the Ministry of Health ordered the closure of the Donoso mining project, for reporting an outbreak of covid-19 among the company's staff.

Wednesday, June 10, 2020

The Ministry of Health (Minsal) suspended the activities of the mining project located in the province of Colon, after several workers became infected with covid-19 and two of them died from the virus.

Check out the "System for monitoring markets and economic situation in Central American countries" by CentralAmericaData.

Prensa.com reviews that "... The injunction, which was handed out this Monday June 8, was filed at the office of Judge María Eugenia Lopez, who will have to analyze whether or not to admit the injunction filed by the firm Morgan & Morgan on behalf of Minera Panamá."

The article adds that "... The company assures that the outbreak has been overcome and that the sanitary measures are in place to resume operations."

Because of the suspension of the mine's activity, the company was forced to release 650 workers and also paralyzed other work related to the operation of the company.

Source: Prensa.com

 

https://www.centralamericadata.com/en/article/main/Mining_Company_Legal_Measures_to_Resume_Operations

[Moderator_02]

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Giant mine, virus free, ready to restart and aid Panama economy

Posted 28/06/2020

MineraPanama The giant  Canadian owned,mining operation in Colon  which has registered five  COVID-19  deaths announced Saturday, June 27  that it is  now free of the virus.

First Quantum company Cobre Panama, which runs the region's largest open-pit declared itself ready to return to operate without risking health protocols".

In a published  statement Minera said:  "the return of 3,500 employees can be achieved safely and responsibly, avoiding the possible transmission risks that would come from returning to the total workforce of 7,000 employees."

Last April and after the first death of a worker from COVID-19, the temporary closure of the operations of Cobre Panamá and the establishment of a sanitary fence by the Ministry of Health (Minsa) were ordered.

To date, the number of recovered miners amounts to 197 after the last one left the National Institute of Physical Medicine and Rehabilitation on Saturday, where he was doing therapy to improve his physical condition after the illness.

The company said  that "with his  release from the hospital, the workforce of Cobre Panamá declares herself free of covid-19."

It stressed that "this last miner represents the strength of 197 who fought the battle against this virus that in total affected 202 collaborators, and painfully took the lives of five of them."

The company said that the sanitary protocols that it applies are "strict" and exposed to the authorities that have carried out nearly a dozen inspections, and also provided data "that shows that since May 8 there are no new cases inside the mine" .

More than 9,000 serological tests have been applied, certified by the Gorgas Commemorative Institute, and a laboratory has been built for the analysis of the tests.

In addition, sanitization and misting of all areas has been implemented as part of a regular procedure at the mine.

In the coexistence zones, lines of at least 2 meters have been demarcated for lines in the required areas, such as those for collecting prepared meals and those assigned for daily health evaluations.

In the transfer of the workers who manage the maintenance and safe preservation, to and from the mine, a strict control is also maintained while the

Buses traveling to the mine have been determined to have a maximum occupancy of 40% of total capacity.

"These and other measures are supervised by the authorities and our Special Health and Hygiene Committee for the Prevention and Care" of the disease, said Keith Green, Country Manager for Cobre Panamá.

Because of this, Cobre Panamá considers that "in collaboration with Minsa and the majority mining union Utramipa, it is confident that it can return to a normal level of operations again without risking health protocols."

Cobre Panamá is a copper mine of the company First Quantum Minerals and Minera Panamá SA is the legal designation of the group in Panama

The $6.7 billion private investment project held its first grind on February 18, 2019 and  shipped its first export in June  2019, primarily to China.

 

https://www.newsroompanama.com/business/giant-mine-virus-free-ready-to-restart-and-aid-panama-economy