In Panama, demonstrators oppose the continued exploitation of the largest copper mine in Central America. They denounce in particular its impact on the environment. But this mobilization risks also having economic consequences for Panama. Three days after the Supreme Court’s decision to cancel the contract to renew the concession, the operator, the Canadian mining giant First Quantum Minerals, is asking the authorities to be able to suspend several thousand employees.
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In its press release, the Canadian group First Quantum Minerals requests the suspension of contracts and therefore the salaries of 7,000 employees. The company cites roadblocks around the site. Blockages which would have forced production to cease in recent days.
Monster demonstrations
The decision of the Panamanian Parliament – in October 2023 – to renew the exploitation of the copper mine for forty more years led to massive demonstrations throughout the country. Opponents denounce an illegal contract and fear the consequences on the environment. This week, they were heard by the Supreme Court which promised the closure of the site.
“ Serious consequences »
But the cessation of exploitation of the largest copper mine in Central America could have “ serious consequences » for the country. This was declared this Thursday, November 30, by the Minister of Commerce who submitted his resignation. The operation produces around 300,000 tonnes of copper per year. This represents 75% of Panama’s total exports and 5% of its GDP.
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