Canadian mining company warns of suspension in Panama

Panama City, Panama.

The Canadian mining company FQM, owner of Panama of the largest open-pit copper mine in Central America, warned on Monday that will temporarily suspend its operations If your activities continue to be hampered by demonstrations against him which have been maintained at the national level for a month.

First Quantum Minerals (FQM) announced in a press release “the possible temporary suspension of its operations” due to the shortage of supplies resulting, according to her, from “illegal blockages by small boats” in the port which provides access to the mine.

The facility “has reduced its operations to one ore processing train and expects lack of supplies for the production plant of energy around the middle of the week,” he added.

Panama confront more than four weeks of demonstrations against the contract signed between the State and the Canadian company, which allows the multinational to operate for 40 years in the Caribbean zone of the country.

This contract, approved on October 20 by Congress, It replaces a 1997 agreement, declared unconstitutional because it was signed without a call for tenders or popular consultation.

Protesters say the new deal has the same vices and that the mine has already caused damage to the local environment.

As a member of demonstrationsseveral people on board small boats They tried to block the port built by the company to receive inputs and carry out copper production.

This Monday, the main accesses to the capital, City of Panama, were blocked by trade unionists and grassroots organizations that oppose mining.

The protests left at least three dead due to incidents between blockade opponents and demonstrators, as well as more than 1,150 detainees. According to the private company, losses of more than $1.7 billion have been recorded.

More than a thousand detainees leave Panama protests against Canadian mining

Congress left in the hands of the Supreme Court the future of the contract which, according to the government and the mining company, gives minimum annual contributions to the State for 375 million dollars, ten times more than the initial agreement.

The FQM argued that “the overall economic contribution of the mine to the State of Panama is estimated at more than 50 million dollars per week, the equivalent of around 5% of GDP.

“These revenues could be affected if exploitation of the mine does not continue,” warns the FQM.

Theodore Davis

"Entrepreneur. Amateur gamer. Zombie advocate. Infuriatingly humble communicator. Proud reader."

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