Angel Valdes | February 23, 2023
At the Ministry of Commerce and Industry we are focused on the conversations under the Canada-Panama FTA between MPSA and the State.
The Ministry of Commerce and Industry, tirelessly in recent months, has told PSA the importance of finalizing the previously agreed agreement on January 17, 2022 to guarantee the operation of the Cobre Panamá mine.
Panama has continuously demonstrated its commitment to maintain conversations based on good faith and legitimate trust, however, Minera Panama has demonstrated the opposite, since they have not honored their word and refuse to sign the agreement with the previously accepted terms, incurring in delaying tactics that have lengthened the process for more than a year, trying to change the agreement where the Panamanian State will not receive the fair compensation it deserves for its natural resources, acting against the interests of the Panamanian people and the mine workers Copper Panama.
The National Government urges MPSA to comply with the regulations before the pertinent institutions and processes necessary for the safe operation of the mine and to refrain from creating unrest and uncertainty about the stability of the thousands of workers and suppliers that depend on the mining activity. .
Using pressure mechanisms does not contribute to improving the levels of understanding that both the State and MPSA require for a fair, balanced and satisfactory relationship of both national interests and foreign investment.
With this agreement, the company will put an end to the state of uncertainty in which the company, its workers, suppliers and Panamanians are currently located.
The National Government maintains its position that the signing of this agreement will represent the best interests of the Panamanian people, respecting the rights of the company and its workers.
