Cobre Panama mining production.
The initiative was approved during the third and final debate with 44 votes in favor and five against in an accelerated vote that did not allow for further consultations.
Reuters.- Panama’s Congress on Friday approved a new concession contract with the subsidiary of Canadian mining company First Quantum in the Central American country, after changes to the original text, initially questioned by lawmakers and rejected by organizations civil.
The initiative was approved during the third and final debate with 44 votes in favor and five against in an accelerated vote that did not allow for further consultations. Outside the venue, hundreds of people protested against the measure.
At the end of September, the Commerce Commission of the National Assembly (AN) recommended modifications to the contract, based on the main complaints from different sectors and communities close to the operation of the Cobre Panamá mine, which highlight the environmental impact of the exploitation of the Cobre Panamá mine. operation. , which represents 4.8% of the country’s gross domestic product (GDP).
The final text was agreed in March between the government and the company and was valid for 20 years with the possibility of renewal for another 20 years. Additionally, this would represent an annual income of $375 million for the country.
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