First Quantum contacts Panama government to learn more about mining contract public consultation

Posted On: November 1, 2023

The Canadian mining company released a statement in which it indicated that it took note of the actions that the national government would take on the issue of Law 406.

Canadian First Quantum Minerals Ltd., parent company of Minera Panamá, published a press release this Tuesday, October 31, reporting that it had contacted the Panamanian authorities following the announcement by the President of the Republic, Laurentino Cortizo, for the call for consultation. popular law 406 or mining contract, December 17.

The company has taken note of the Electoral Tribunal’s comments regarding the legal and logistical considerations of the popular consultation. In addition, the company is aware that the National Government plans to present to the National Assembly a bill on the popular consultation process.

In its note, the company also took note of the unconstitutionality appeals filed against Law 406, and that currently two of them have been admitted to the Supreme Court of Justice.

First Quantum contributes to the Panamanian economy by generating jobs, opportunities and empowerment for tens of thousands of Panamanians and sponsors a wide range of social, cultural and biodiversity programs throughout the country.

“We are fully committed to operating in an environmentally responsible manner, meeting all environmental compliance obligations and supporting Panama’s biodiversity through our reforestation, species conservation and protected areas plans. We remain committed to reforesting nearly double the area we operate. The protected areas and national parks we support represent more than 30 times the footprint of our mine,” the company said in its statement.

The Cobre Panamá project, in Donoso, province of Colón, is the largest private investment in the history of Panama; Copper concentrate mining currently contributes almost 5% of gross domestic product, accounts for 75% of the country’s goods exports, and has created at least 40,000 jobs, directly and indirectly, which are estimated to support 100,000 Panamanians or more and their families.

“We believe in this project and its potential, and we appreciate the opportunity to have a constructive dialogue with the Panamanian people about their future. “We remain focused on the safety and well-being of our more than 8,000 employees who continue to operate the mine,” the First Quantum company said.