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Panama approves mining moratorium law

Panama City, Nov 3 (Prensa Latina) Panamanian President Laurentino Cortizo sanctioned on Friday Law 407 on the mining moratorium, approved this morning in the third debate at the National Assembly.

With 59 votes in favor and two abstentions in the Assembly, the new regulation bans the granting of concessions for the exploration, extraction, transportation and benefit of metallic mining exploitation in the national territory.

Cortizo said that the ruling of the Supreme Court of Justice is now awaited, with due respect to the separation of the State’s powers.

As of this law, the Ministry of Commerce and Industries (MICI) will not be able to grant concessions and will reject new applications for obtaining them.

Likewise, all applications for metallic mining concessions that are in process will be refuted, and the MICI will have a three-month term to file them.

Previously, open-pit mining was prohibited only in the Ngäbe Bugle region, a situation that is now extended to the whole country.


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