{"id":17503,"date":"2026-09-30T18:00:00","date_gmt":"2026-09-30T23:00:00","guid":{"rendered":"https:\/\/expat-times.com\/panama\/?p=17503"},"modified":"2026-09-30T13:45:20","modified_gmt":"2026-09-30T18:45:20","slug":"auld-lang-syne-to-the-mine-interministerial-commission-recommends-the-progressive-closure-of-cobre-panama","status":"publish","type":"post","link":"https:\/\/expat-times.com\/panama\/business-economy\/auld-lang-syne-to-the-mine-interministerial-commission-recommends-the-progressive-closure-of-cobre-panama\/","title":{"rendered":"Auld Lang Syne to the Mine? Interministerial Commission Recommends the Progressive Closure of Cobre Panam\u00e1"},"content":{"rendered":"\n

A high-level Panamanian commission has formally recommended that President Jos\u00e9 Ra\u00fal Mulino authorize an orderly mine shutdown<\/a><\/strong> of the Cobre Panama copper mine<\/a>, with the project itself footing the bill. The recommendation, delivered Wednesday by Commerce and Industries Minister Julio Molt\u00f3, rules out any use of state funds and bars any contract extensions.<\/p>\n\n\n\n

The interministerial commission spent three months evaluating the fate of the shuttered operation. Its core message to the president was direct and singular. Molt\u00f3 said the group asked Mulino to authorize conditions for a closure process that prioritizes environmental, social, and economic interests while fully respecting the Supreme Court’s November 2023 ruling that killed the original concession.<\/p>\n\n\n\n

\"Ministro
Molt\u00f3 insisted that none of the recommendations transfer ownership of those resources. <\/strong>Julio Molto. By MICI.<\/figcaption><\/figure>\n\n\n\n

Orderly Mine Shutdown Framework and Guiding Criteria<\/h2>\n\n\n\n

Molt\u00f3 emphasized that the closure will not happen quickly. He told the president that an operation of this magnitude cannot be shut down in one year or even five. The commission laid out six binding criteria for any future decisions on the site, starting with absolute compliance with the court ruling that declared Law 406 of 2023 unconstitutional.<\/p>\n\n\n\n

State sovereignty over mineral resources and subsoil forms another pillar. Molt\u00f3 insisted that none of the recommendations transfer ownership of those resources. The process must also carry no fiscal cost for Panamanians. Molt\u00f3 stated plainly that the site pays for its own closure, and no line item in the national budget should fund the work.<\/p>\n\n\n\n

Transparency, independent oversight, and prioritization of affected communities round out the framework. The minister called for verifiable transparency and international-quality supervision. He argued that whoever operates the site should not be the one verifying the work, and whoever closes it should not be the one declaring the closure successful.<\/p>\n\n\n\n

\"copper
Molt\u00f3 emphasized that the closure will not happen quickly. By MiAmbiente PA<\/figcaption><\/figure>\n\n\n\n

Economic Fallout and Regional Disparities<\/h2>\n\n\n\n

The report quantified the human and economic toll of the mine’s suspension, dealing a heavy blow to the national supply chain. The operation supported roughly 2,000 registered suppliers before shutting down. Three out of every four of those suppliers were Panamanian micro, small, and medium enterprises, totaling about 1,500 companies.<\/p>\n\n\n\n

Job losses were severe and rippled across multiple sectors. More than 6,000 direct jobs disappeared, along with roughly 30,000 indirect positions. The commission estimates that around 144,000 people suffered income losses tied directly or indirectly to the mining activity.<\/p>\n\n\n\n

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Una publicaci\u00f3n compartida por Hispania Informa | Noticias (@hispaniainforma)<\/a><\/p><\/div><\/blockquote>\n