Cobre Panamá Mine Dispute: Ownership and Environmental Concerns at the Forefront

The Cobre Panamá mine, a significant open-pit copper operation, has been at the center of a contentious ownership dispute following its closure last December. The mine, operated by Canadian company First Quantum, was halted after Panama's Supreme Court deemed a new 20-year concession unconstitutional. The focus now lies on the ownership of the copper concentrate, a processed form of copper ore, which remains at the site. First Quantum has expressed its commitment to collaborating with the new Panamanian government to resolve the situation. The mine, once heralded as Panama's most crucial foreign investment after the Panama Canal, has left approximately 1,400 workers, including union leader Michael Camacho, in a precarious position. The ongoing maintenance program is costing First Quantum between $15 million and $20 million monthly. Camacho advocates for government approval of a plan to ensure the mine's safe operation and preservation, highlighting the economic implications of the mine's closure. Conversely, environmental activist Raisa Banfield argues that keeping the mine closed serves the country's best interests. She contends that Panama's future should not rely on mining, emphasizing the need for sustainable practices. Biologist Samuel Valdés, who conducted environmental studies for First Quantum, counters the negative perceptions surrounding the mine, asserting that local ecosystems are thriving and that misinformation has fueled public distrust. As the situation unfolds, the balance between economic viability and environmental stewardship remains a critical issue for Panama's future.