Through the tender a company will be selected to join the State Mining Development Corporation Cerro Colorado (Codemin) and perform the exploitation of one of the largest copper reserves in Latin America.
Roberto Henriquez, head of Trade Department, told Prensa.com "more than a dozen multinational companies have knocked on the doors of the ministry to show their interest in exploiting the site, but for now there is no definite date for beginning this process.”
Petaquilla Gold is looking to expand its Panamanian operations, this time to mine copper.
Within a reorganization process at Petaquilla Gold, a subsidiary of Petaquilla Minerals Ltd., the company Azuero Mine was created. It will exploit gold and copper deposits in "El Chorcha" (Chiriquí), "Cerro Quema" (Los Santos) and "Santa Rosa" (Veraguas), where the mining potential is estimated at $80 billion.
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