For decades, Morgan & Morgan has been part of the development of the mining industry in Panama, representing multinational companies and others with various matters in relation to Panama’s mining industry.
For more than 25 years, the firm has been advising Minera Panama, S.A. (MPSA for its initials in Spanish), representation which commenced with successful negotiations of a concession agreement, approved by Law 9 of 1996, that includes a special tax regime, in connection with the US$10 Billion open-pit copper mining project Cobre Panamá, the biggest private sector investment in Panama history.
MPSA is today a subsidiary of Canada´s First Quantum Minerals, one of the world´s top six copper producers. MPSA’s mining concession, which consists, at the moment, of 12,955.1 hectares, is located 120 kilometres west of Panama City and 20 kilometres from the Caribbean Sea coast, in the district of Donoso, Colon province, in the Republic of Panama. Moreover, the Government of Panama has approved an extension of MPSA’s concession agreement for an additional 20-year term.
The firm´s representation of MPSA has consisted, among others, in assisting MPSA with regulatory matters, permits, infrastructure development matters; environmental law matters, issues regarding land and surface rights; drafting of loan agreements before banking and financial entities; mineral streaming agreements; immigration and labour related matters; litigation matters; and every critical step on corporate matters related to Panamanian law and the project’s development.
The firm also has advised MPSA in the development of Cobre Panamá Power Station, a 300 MW two-unit coal-fired generating facility located in Punta Rincon, Donoso District, Colon Province. The power station will provide energy for the open-pit mine, processing center and port facility.
In addition, we have been advising Minera Cerro Quema, S.A. (a former wholly own subsidiary of Pershimco Resources, now a wholly own subsidiary of Orla Mining Ltd), with respect to its mining concessions in Panama and, among others, regulatory matters, permits, environmental law issues on land and surface rights and corporate matters related to Panamanian law.
Given the experience and breadth of our team, we are uniquely positioned among Panamanian law firms to handle all aspects of these challenging projects.
09 MARCH 2023 - Morgan & Morgan Legal advised Minera Panama, S.A., in negotiating a Refreshed Concession Agreement with the Government of Panama for the Cobre Panama Project, the largest private investment in the history of Panama.
28 APRIL 2022 - Morgan & Morgan Legal advised Orla Mining Ltd. and Minera Cerro Quema, S.A. in connection with a secured credit facility for an amount of up to US$150 million.
26 OCTOBER 2020 - Morgan & Morgan advised First Quantum Minerals Ltd. in connection with a Senior Notes Offering for an amount of up to US$1.5 Billion
13 JANUARY 2020 - Morgan & Morgan advised First Quantum Minerals Ltd. in connection with a Senior Notes Offering for an amount of up to US$750 million
19 DECEMBER 2019 - Morgan & Morgan advised Minera Cerro Quema in connection with a credit facility for an amount of up to US$125 million
06 JANUARY 2020 - Morgan & Morgan promotes new partner to its Corporate Law practice
20 FEBRUARY 2018 - Morgan & Morgan advised First Quantum Minerals Ltd. in the offering of senior notes for an amount of up to US$1.85 Billion
13 SEPTEMBER 2017 - Morgan & Morgan advised First Quantum Minerals in connection with a US$850 million Senior Notes Offering
20 JANUARY 2016 - Morgan & Morgan advised Minera Panama, S.A. and First Quantum Minerals Ltd. in connection with a Streaming Agreement for an amount of US$1,000,000,000.00
20 APRIL 2015 - Morgan & Morgan and Minera Panama signed cooperation agreement
08 MAY 2014 - Morgan & Morgan advised Minera Panama in connection with the purchase of concession rights and assets of Petaquilla Minerals for an amount of up to US$60 million
31 DECEMBER 2012 - Morgan & Morgan represent Minera Panama in the development of a US$ 4 billion mining project
18 JULY 2012 - Morgan & Morgan advises Inmet Mining Corporation in the sale of a 20% stake in its subsidiary Minera Panama, S.A. to Korea Panama Mining Company