The Government of Panama will proceed with alternative measures for the operation of the copper mine if the agreement is not signed before December 14.

In response to recent comments in the press by representatives of Minera Panama, the Ministry of Commerce and Industries reported the state of the discussions with the company regarding the Cobre Panama project.

As announced on November 14, 2022, Minera Panama must sign an agreement regarding the Copper Panama mine no later than December 14, 2022, or the Government of Panama will proceed with alternative measures for the operation of the mine,” the government of Panama said.

“The discussions on the conclusion of a new contract have not progressed enough and are stalled,” the statement added.

The Government of Panama reiterated that any new contract must faithfully reflect the agreement between Minera Panama and the National Government in January 2022.

” We will only accept an agreement that is fair to the Panamanian people and consistent with international standards,” they stressed.

The Government of Panama remains committed to working with Minera Panama to reach a conclusion that benefits the long-term interests for Panama and its people.