{"id":38015,"date":"2023-07-05T13:20:53","date_gmt":"2023-07-05T18:20:53","guid":{"rendered":"https:\/\/morimor.com\/?p=38015"},"modified":"2023-07-06T08:21:36","modified_gmt":"2023-07-06T13:21:36","slug":"comments-on-recurring-questioning-related-to-mining-concession-contract-between-minera-panama-s-a-and-the-republic-of-panama","status":"publish","type":"post","link":"https:\/\/morimor.com\/es\/comments-on-recurring-questioning-related-to-mining-concession-contract-between-minera-panama-s-a-and-the-republic-of-panama\/","title":{"rendered":"Comments on Recurring Questioning related to Mining Concession Contract between Minera Panama, S.A. and the Republic of Panama"},"content":{"rendered":"
Minera Panama, S.A. (\u201cMPSA\u201d), a subsidiary of First Quantum Minerals (\u201cFQM\u201d), pursuant to its 1997 mining concession granted by the executive branch of Panama\u00b4s government and approved by the National Assembly of Panama through Law 9 of 1997 (\u201cLaw 9\u201d), developed and currently operates the Cobre Panama copper mining project, a more than US$10 Billion investment– the largest private investment in Panama\u00b4s history, which represents approximately 1.5% of the world\u00b4s copper production.<\/p>\n
In September 2018, the Supreme Court of Panama issued notice of a ruling on an action filed in 2009 seeking a declaration of unconstitutionality of Law 9, through which the National Assembly of Panama approved the 1997 mining concession contract.\u00a0 The Court declared Law 9 unconstitutional.\u00a0 The ruling entered into effect in December of 2021. Although highly questionable, and our comments on the same may be the subject of a subsequent post, the ruling is final and has caused legal uncertainty in connection with the Cobre Panama investment and potential legal risks for both contracting parties (including commercial and investment arbitration).<\/p>\n
Upon assuming power, the government of President Laurentino Cortizo started a negotiation process with FQM and MPSA on a refreshed concession agreement. After more than two years of negotiations, in March of 2023 the parties reached agreement on the terms of the refreshed contract.\u00a0 As a condition to entering into effect, the contract requires a public consultation process (already completed), approval by the Cabinet Council (already granted), countersignature of the Comptroller General of Panama (in progress), and approval by the National Assembly through a law.<\/p>\n
Since the announcement of the agreement in March, different persons or groups mainly opposed to mining have made public comments in opposition to the refreshed contract.\u00a0 I will try to briefly clarify some of the negative comments that have been made.<\/p>\n
Minera Panama, S.A. (\u201cMPSA\u201d), a subsidiary of First Quantum Minerals (\u201cFQM\u201d), pursuant to its 1997 mining concession granted by the executive branch of Panama\u00b4s government and approved by the National Assembly of Panama through Law 9 of 1997 (\u201cLaw 9\u201d), developed and currently operates the Cobre Panama copper mining project, a more than US$10 Billion<\/p>\n","protected":false},"author":1,"featured_media":38030,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4734,430,420,4735],"tags":[],"_links":{"self":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/posts\/38015"}],"collection":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/comments?post=38015"}],"version-history":[{"count":2,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/posts\/38015\/revisions"}],"predecessor-version":[{"id":38032,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/posts\/38015\/revisions\/38032"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/media\/38030"}],"wp:attachment":[{"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/media?parent=38015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/categories?post=38015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morimor.com\/es\/wp-json\/wp\/v2\/tags?post=38015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}