The area is seeing new banks, restaurants, hotels and shopping centers as well as a boom in housing construction and the renovation of transport systems.
The Comptroller General of the Republic, has revealed that at the end of 2012 the value of gold exports reached $115.7 million. “So far, the only company in the process of exploitation is Petaquilla Gold, though it is expected that the end of 2016 will see the start of the Cobre Panama project (as it was called by Minera Panama, predecessor in the concession), now First Quantum“, reported Laestrella.com.pa.
“Petaquilla Gold has invested about $500 million, and for its part, First Quantum will invest $6.2 billion in the exploitation of copper (an investment which is larger than the Panama Canal expansion project).
According to the governor of Cocle, Juan Carlos Rodriguez, the growth experienced by the province is positive, although there are certain steps that should be taken by the government to strengthen basic services such as security, health and education.
Source: laestrella.com.pa
Operations
Molejon Gold Mine
QUICK FACTS
Location: Panama
Type of Mine: Open Pit
FY 2011 Gold Production: 55,566 ounces at $634 Cash Cost per Ounce
FY 2012 Production: 68,002 ounces
Petaquilla Minerals’ flagship Molejon Gold Mine is located in the Colon Province of Panama approximately 130 kilometers west of Panama City. Gold production started in April 2009 and reached commercial production in January 2010. On/off heap test leach pads were successfully started in the beginning of September 2011 with full production anticipated by the end of the year.
Production
Can you tell me in what part of Cocle is this happening? Where is the construction of houses, banks, shopping centers and hotels taking place? Thanks