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Panamanian Court declares mining concession law unconstitutional

Panama City, Nov 28 (Prensa Latina) In a unanimous decision, the Supreme Court of Justice plenary decreed unconstitutional Law 406, which establishes the contract between the State and the company Minera Panama.

After five consecutive days of sessions, the resolution was received with cheers by the activists who for several days had been stationed in the vicinity of that instance, which finally issued its verdict on the first two of the 10 lawsuits filed against the aforementioned regulation.

For more than a month there have been rallies in the country against Law 406, which allows Minera Panama to operate for a period of 20 years, extendable for the same period, the largest copper mine in Central America.

Despite the establishment of an indefinite moratorium on the exploration, extraction, transportation, and benefit of metallic mining in Panama, or Law 407, signed by President Laurentino Cortizo, the protests calling for the repeal of the concessions in this area continue.

Meanwhile, First Quantum informed that the notification of the intention to file arbitration claims is part of the legal formalities with the purpose of opening a dialogue period of at least 90 days between the parties.

In a press release, the company emphasized that the note previously sent to the Ministry of Commerce and Industries (MICI) is part of the procedures required by international treaties.

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