Judith Pena | February 6, 2023
Through a statement issued this Monday, February 6, from Toronto, Canada, the company First Quantum Minerals, concessionaire of Minera Panamá SA provided an update on the status of Cobre Panamá and the port of Punta Rincón, assuring that the Panamanian government has exerted pressure so that they sign the renewed concession contract with the conditions of the State.
They explained that on January 26, 2023, Minera Panamá, SA received Resolution No. 007-2023, issued by the Panama Maritime Authority (AMP) where it requested the suspension of concentrate loading operations at the Cobre Panamá port, Punta Rincón, until it is demonstrated that the process of certification of the calibration of the scales by an accredited company has been initiated.
They assured that the Mining Company presented the required proof of the start of the certification process by an accredited company on February 3, 2023, without receiving a response from the AMP.
«This Resolution varies from the previous process of internationally accepted certifications that Minera Panama has previously provided to the AMP, which have been accepted up to now. Consequently, Minera Panamá has suspended loading operations pending a response from AMP,” they said.
They added that if the Government of Panama forces Minera Panama to close Cobre Panama, this closure will be to the detriment of Panama, the mine workers, suppliers and the Panamanian economy in general. They stressed that if the concentrate is not shipped by mid-February, a shutdown will be necessary, due to limited storage capacity at the site.
“The Resolution is part of a series of increasing attempts by the Government to pressure the Company to accept a renewed concession contract on the Government’s terms,” they specified.
Take measures to block copper exports: The AMP has taken several measures to obstruct operations at MPSA’s Punta Rincón maritime terminal. These include carrying out extraordinary and unusual inspections, instructing pilots not to provide service to the vessels, and issuing the Resolution.
