Panama’s Chamber of Commerce expressed concern over the “erratic turn” the negotiations between the government and First Quantum Mineral have taken.
Three days prior to the December 14 deadline for Canada’s First Quantum Minerals to ink a contract with the Panamanian government that would allow the company to keep running its Cobre Panamá copper mine, the country’s Chamber of CommerceIn the communiqué, the Chamber’s president Marcela Galindo De Obarrio expressed concern about the “erratic turn” the negotiations have taken.
“We urgently call on the parties to redirect the negotiation, focusing on win-win formulae, through which a fair balance is achieved. Such a balance should take into account what the State deserves to get, and what the company is entitled to receive considering the conditions and risks associated with the activity it carries out,” the release reads. “Doing otherwise puts us at risk of annihilating an activity that represents 3.5% of Panama’s GDP.
The official communiqué also said the government is committed to honouring the terms that were discussed back in January and to working together with the miner to reach a solution that benefits Panama and its people.Vancouver-based First Quantum and the Ministry of Commerce and Industries of Panama began negotiations to renew the contract for Cobre Panamá in
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