Panama’s government has received the final comprehensive audit of the Cobre Panama mine. A special inter-ministerial commission will now analyze the 539,791-dollar report. The commission includes the Panama Ministry of Economy and Finance, the Ministry of Commerce and Industries, and the Ministry of Environment. Their findings will go directly to President José Raúl Mulino.
Economy Minister Felipe Chapman confirmed the government received the audit last Friday. The report was prepared by SGS Panama Control Services Inc. Chapman stressed there is no set deadline for completing the evaluation. “There is no deadline. The way we are going to work, coincidentally yesterday the three ministers met to start coordinating the work, to divide the analysis of the audit report we received on Friday,” Chapman said [Translated from Spanish].
Each institution will form specialized technical teams to speed up the review. “Each one is left with the responsibility of forming their own teams within their ministries to advance as quickly as possible. And we divided the task of studying the audit report,” Chapman stated [Translated from Spanish].
Commission Develops Work Plan for Cobre Panama Mine Audit Review
The commission is building a roadmap alongside its technical analysis. Chapman said the group has already set a meeting schedule, sometimes meeting two or three times a week. “We are going to develop a work plan that, to the extent that we are able to communicate it, we will do so to the country. We already set a calendar to meet periodically,” he explained [Translated from Spanish].
The minister emphasized the goal is an exhaustive review before recommending actions to the executive branch. “We are already coordinating properly. Our desire is to advance as much as possible. I believe the country is anxious for us to do due diligence, to do the most complete study possible, to analyze all alternatives,” Chapman said [Translated from Spanish]. He added that doing nothing is not an option the public expects.
Chapman noted the commission will also seek feedback from various sectors. “In the process, of course, there will be a search for a lot of feedback. There are many good Panamanians who have ideas that have approached us, ideas on how to approach the problem with potential solutions,” he indicated [Translated from Spanish].
Audit Scores 87.73 Out of 100 But Flags Critical Risks
The audit gave the Cobre Panama project a global score of 87.73 out of 100. However, the document identified 26 risks linked to the current Preservation and Safe Management Plan. It also found 10 critical components requiring permanent monitoring to avoid future environmental liabilities.
The highest score came in Technical and Operational Standards Application, which reached 90.20 points. Environmental Compliance followed with 87.64 points. The report warns the project’s stability depends on continuous surveillance of sensitive areas. These include the tailings dam, surface and groundwater, biodiversity, and ecological restoration programs.
Significant delays were found in reforestation programs, environmental restoration, and species reintroduction. Compliance levels for these programs ranged between 40.70 percent and 45.70 percent. The Preservation and Safe Management Plan risks require immediate attention from the commission.
Environmental Groups Question Audit While Mining Sector Celebrates
The results have drawn sharply different reactions. The executive director of the Center for Environmental Advocacy, Lilian Gonzalez Guevara, challenged the document’s scope. “This is not the audit that the Panamanian population demanded,” she stated [Translated from Spanish].
Meanwhile, the president of the Panama Mining Chamber, Severo Sousa, praised the international reputation of the auditing firm. “We have received the completion of the audit with great pleasure. SGS Panama Control Services Inc. is one of the two most recognized international certifiers. This audit was not done by just anyone,” Sousa argued [Translated from Spanish].
Sousa also highlighted technical support from multilateral organizations during the process. He referred to backing from the Inter-American Development Bank and CAF as bringing “an air of independence and seriousness to the matter, which is very important” [Translated from Spanish].
The government has not announced when the commission will deliver its final recommendations to President Mulino. Chapman said the team will communicate its progress to the country as it becomes available. The Cobre Panama mine audit represents a key step in determining the future of the massive copper project in Donoso, Colon province.