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Panama signs indefinite moratorium on new mining concessions
However, Canadian open-pit copper mine allowed to operate for at least 20 more years
Demonstrators march in a parade during a protest against a mining contract between the Panamanian government and the Canadian mining company First Quantum, in Panama City. November 3, 2023
PANAMA’S President Laurentino Cortizo signed into law an indefinite moratorium on new mining concessions on Friday, which also prohibits renewing existing concessions.
Panama’s National Assembly approved the Bill on Thursday. An article was removed, however, that would have revoked a controversial mining contract that sparked nationwide protests over the past two weeks.
The new law will still allow Minera Panama to operate an open-pit copper mine in the state of Colon for 20 years, with a possible extension for another 20 years.
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