Video: Supreme Court should overturn mining ban, says Panama’s Mining Chamber

The Supreme Court of Panama should declare the country’s mining moratorium unconstitutional, according to Zorel Morales, Executive Director of the Mining Chamber of Panama.In an interview with MINING.COM, Morales emphasized that the country’s constitution declares mining to be of social interest and economic benefit.In November 2023, the Central American nation enacted Law 407, a mining moratorium, in response to widespread protests that erupted after the government signed a new contract with Minera Panamá, the local unit of First Quantum Minerals.The Cobre Panamá mine, one of the world’s top sources of copper, was shut down that same month amid intensifying protests over the operating contract. Later, Panama’s Supreme Court declared First Quantum’s contract unconstitutional. At full operation, the Cobre Panamá mine accounted for about 1.5% of global copper production.According to Morales, the closure of First Quantum’s Cobre Panamá mine and the subsequent moratorium have had a significant impact on the country’s economy.“You cannot just eliminate 5% of your GDP and not expect consequences,” he remarked.The executive added that unemployment has risen across the country, and communities near the mine are struggling, realizing they have lost their primary source of livelihood.First Quantum is seeking at least $20 billion from Panama in two arbitration cases—one through the International Chamber of Commerce and another through the Canada-Panama Free Trade Agreement—following Cobre Panamá’s closure.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com