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Latin America Investment News on Viva Tropical

Despite Being Protected by Law, Panama Aims To Mine Indigenous Lands

Article Summary:

A copper deposit in Panama; Cerro Colorado, located in the Ngäbe Bugle province, and is considered one of the largest in Latin America, it could be exploited by the state despite the law to protect mineral resources located in protected indigenous areas.

Photo Credit: La Prensa

Original Article Text From La Prensa via Google Translate :

Project Supports to make the Cerro Colorado Copper

The largest copper deposit that has Panama: Cerro Colorado, located in the county Ngäbe Bugle, and is considered one of the largest in Latin America, it could be exploited by the state despite the law to protect mineral resources Indian in that area.

Bill 415, which established a special regime for the protection of water resources, environmental and minerals of the region, was approved on first reading to the exclusion of article five, removing existing mining concessions and suspended the work of these companies.

If approved on second and third debates the project 415 in the Assembly, the state could develop the field by Law 41 of 1975 which created the Corporation for Cerro Colorado Mining Development (Codemin).

Act 41 gives the right Codemin “management and operation of by-products and related substances that are extracted from the Cerro Colorado mine site,” says the article two.

“Codemin law remains in force, and that law provides that the State through a joint venture will exploit this reservoir,” said Felix Wing, a lawyer for Environmental Advocacy Center (CIAM).

This bill would not allow article five to exploit Cerro Colorado, and proceed with the projects of other companies when they give their concessions in the region Ngäbe said Wing.

“The law does not respond to the aspirations of the people who did not want mining.”

The copper deposit has a thousand 400 million metric tons, according to the Ministry of Commerce and Industry (ICIM).

In addition, approve the 25 applications for exploration of gold and other minerals in this region. Of these requests, six possible projects were declared eligible for award reflects the Mici portal.

Even in January, added two new applications Panama Copper Mining Company, for projects in the region.

For its part, the Mining Chamber of Panama considers that prohibit mining in the region will not solve the problems and undermines the country’s development.

IN THE REGION
25 000 Millions of pounds of copper are found in Cerro Colorado.
25 Applications for gold and other metals in the region remain in the Bugle Ngäbe Mici.
6 Of these applications are eligible for a grant of exploration.

Link to Original Article:

From La Prensa

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