Anti-mine protestors demonstrate in plaza outside Panama’s presidential palace. (Photo by Corey Kane)
A 20-year renewal contract for the world’s eighth largest copper mine set off weeks of protest in Panama, with activists warning of environmental damage, government corruption, and erosion of national sovereignty. On Oct. 20, Panamanian President Laurentino Cortizo signed legislation approving a contract renewal guaranteeing the government a minimum of US$375 million in annual royalties from the open-pit Cobre Panama mine, owned by Canada’s First Quantum Minerals. In return, First Quantum gains the right to mine the site for 20 years and an option to extend for 20 more. The contract, approved by Panama’s unicameral National Assembly in a 47-6 vote, capped months of tense talks between the government and the Canadian company. The pushback that followed—on the streets, in the National Assembly and in Panama’s Supreme Court—has captured wide attention, in no small part because of the economic stakes involved. The Cobre Panama mine... [Log in to read more]
