10212017Headline:
5 Green Reasons Costa Rica Is the Poster Child of the Environment 4 years ago
Have You Tried Guanacaste’s Fastest Growing Sport? 4 years ago
Was Your Costa Rican Bank Account Closed? 4 years ago
Latin America Investment News on Viva Tropical

South Korea Exploits “Legal Limbo” and Takes over Mining Copper in Panama

Article Summary:

State-run South Korea and LS-Nikko Copper Inc., a privately owned copper smelting and refining operation of South Korea, announced they will be responsible for the copper mining in Panama for at least the first six months of this year. But is this legal? Economic and environmental groups say the corporation has found loop holes and taken advantage of a mining “legal limbo” after the repeal of the controversial Law No.8, known as “Law Chorizo.”

Original Article Text From La Prensa via Google Translate :

Catalogs ANCÓN Korean Presence in Panama Mining Unconstitutional
PANAMA (DPA) .- The executive director of the Association for the Conservation of Nature (ANCON), Alida Spadafora, described Sunday as “unconstitutional” the intervention of South Korea in mining in Panama.
 
Speaking to RPC Radio , Spadafora said that the Panamanian constitution prohibits foreign states to intervene in internal affairs of the country and said that no contract is above national interests. 

The environmental leader said economic groups have taken advantage of a “legal limbo” after mining the repeal of the controversial Law No.8, known as “law chorizo”, inviting South Korea to exploit rich copper deposits in Panama. 

The statement of the leader of ANCON comes after a consortium of South Korea led by state-run Korea Resources Corporation, announced he will be responsible for a copper mine in Panama from the first half of this year. 

The state-run Korea and LS-Nikko Copper Inc., a privately owned copper smelting and refining also South Korea, have a combined 20 percent in the mining project for 30 years. According to South Korean estimates, the mine in Panama will produce more than 2 000 140 million tonnes of copper and molybdenum ores two large international demand.

Link to Original Article:

From La Prensa

Latin America Investment News on Viva Tropical