Panama Tenders Cerro Colorado Mine

The Government announced that it will launch a tender for the exploitation of copper deposits in Cerro Colorado.

Friday, January 14, 2011

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.”

More on this topic

Panama Will Extract Copper from 'Cerro Colorado' Mine

November 2009

'Cerro Colorado' located in Ngäbe Buglé, is one of the world's largest copper reserves.

Ricardo Quijano, Commerce and Industries vice minister, confirmed the government's decision of putting to use the mining potential of 'Cerro Colorado'.

Quijano told Prensa.com: "... this project, like Petaquilla, will help develop the country's poorer areas, so they must be seen in a positive light, ...

Cerro Colorado Copper Project Evaluated

October 2010

Panamanian government along with Peruvian experts are developing a proposal for the project.

It is expected within the next fifteen days a report will be submitted with different proposals for development, timetables for action and mining costs.

The site, located in the Ngäbe Bugle region in Cerro Colorado, is one of the largest copper reserves in the world.

Korea Interested in Panamanian Copper

May 2010

Korean companies are interested in the Gnäbe-Buglé field (Cerro Colorado), and the copper mining project by “Minera Panama” in Cocle.

Lee Myung-bak, president of South Korea, will visit Panama in June. He will meet with President Ricardo Martinelli to discuss Korea’s involvement in the country’s mining projects.

Petaquilla Goes for Copper

September 2009

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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