Panamanian Mining Code Changes in 2011

The National Assembly will endorse the new code in 2011.

Wednesday, November 24, 2010

The mining code changes have already been approved by the cabinet last October.

"According to the head of the Ministry of Commerce and Industry, Roberto Henríquez, the Presidency has decided to extend the period in order to provide all the time in the world for the referendum, so that no one can say it was done in a hurry” stated to Prensa.com.

The new legislation allows foreign states the opportunity to become shareholders in mining operations in Panama. Current legislation prohibits participation of foreign states in mining concessions.

More on this topic

State Mining Project in Guatemala

June 2012

The bill also deals with the distribution of royalties, the formation of a Mining Council, and the creation of environmental insurance.

A bill has been presented in the Guatemalan Congress to amend 30 articles of the Mining Act. Among the changes is the creation of a state mining company which may participate in public or mixed investments.

Mining Law Reform Allows Foreign State to Invest

November 2011

If approved, the new reform in Panama, would allow foreign states to participate as shareholders with stakes of up to 35%, in a mining concession.

The new legislation, which will be discussed in January, restores items that had been repealed, said the Minister of Commerce and Industry, Ricardo Quijano.

Panama: Amendments to Mining Code Approved

February 2011

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%.

New Mining Code Approved in Panama

October 2010

The Cabinet Council approved the mining legislation reform, which must be supported by the National Assembly.

The new legislation allows foreign states to participate in mining activities in Panama. Current legislation prohibits participation of foreign states in mining concessions.

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