The Commerce Commission of the National Assembly has begun discussing Bill No.394, which restores repealed articles in the Mineral Resources Code.
A press release from the Panamanian National Assembly reads:
The Commerce Commission began discussing Bill No. 394, which restores repealed articles in the Mineral Resources Code, Act 109 of 1973 and Act 55 of 1973, which, taken together, regulate the exploration and exploitation of metallic and non-metallic minerals.
The Panamanian National Assembly approved bill number 277 which amends the Mineral Resources Code.
The proposal, which was approved in first and second debate, was adopted with 42 votes in favor, 15 against and no abstentions and it adjusts fees and royalties to be paid for mineral concessions, which will increase to 5%.
The Assembly of Panama has approved, in its first reading, Bill 415 on environmental protection, without the article which eliminates existing mining concessions.
Panama's National Assembly approved on first reading Bill 415 which is related to the special protection of water, environmental and mineral resources in Cerro Colorado, with the omission of Article 5, which would have eliminated existing mining concessions and forced the companies operating there to suspend work.
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