In a statement sent this morning, the National Government announced that despite the efforts in the negotiations, an agreement has not been reached with Minera Panama for the signing of a new contract “At midnight yesterday the deadline expired. however, in good faith, the Government team held discussions with the company until 6:00 am today. Even so, the company did not agree to sign the contract proposed by the Government that reflects the January 2022 agreement. On the contrary, the company sent at 6:16 a.m. a new proposal that, among other things, fundamentally changed economic aspects. , such as a modification to the previously agreed royalty regime. This conduct is regrettable.” says the statement.
The Government also informed that the President of the Republic. Laurentino Cortizo, convened an extraordinary meeting of the Cabinet Council and then he will address the nation «According to the Political Constitution of Panama, “The concessions for the exploitation of the soil and the subsoil. . . They will be inspired by social welfare and the public interest.” In this sense, the National Government has worked tirelessly under the guidance of the President, to celebrate a contract that does justice to our country for the use of its natural resources, for the benefit of the Panamanian people. The President has convened an extraordinary meeting of the Cabinet Council in which the pertinent measures will be agreed upon. The President of the Republic will address a message to the nation today.”
