Panama signs bill indefinitely suspending new mining concessions

Foreign media reported on November 5 that on Friday, Panamanian President Laurentino Cortizo signed a bill indefinitely suspending new mining concessions to protect the country’s ecological environment and communities. . The move sparked concern among environmental groups and communities because a change in one of the terms allowed Canadian company First Quantum Mining to continue operating in Panama. The bill was passed on Thursday after approval from the National Assembly. The original bill contained a provision calling for the cancellation of a controversial mining contract with Canada's First Quantum Mining Company. However, in new regulations signed on Friday, this provision was removed, allowing the Panamanian subsidiary of Canada's First Quantum Minerals to continue operating an open-pit copper mine in the state of Colon for 20 years, with the possibility of an extension for another 20 years.