Panama's Mining Potential

Estimates are that there are $200 billion worth of metals in the Panamanian subsoil, with copper predominating.

Tuesday, December 2, 2014

Although the largest proportion of mining reserves is copper, the four gold deposits identified alone are valued at about $5 billion.

Anpanama.com reports that "... The Panamanian government has granted in concession most of these deposits and their exploitation is currently in different stages, yet none have passed the stage of mining, which is when the material is excavated. At the moment Minera Panama has under construction the Panama Cobre mine which involves an investment of $6 billion.The Cobre Panama mine will be in production in late 2017 or early 2018. Another major project in gold and silver is Petaquilla Gold, which is currently paralyzed due to financial problems. "

It is important to note the existence of strong resistance from environmentalists groups to open pit mining.

The president of the Mining Chamber of Panama, Roberto Cuevas, added "... The potential in the country could be much higher as only a little of the territory has been explored. The studies carried out in 2009 that were under concession or to be given in concession cover 40% of the country. "



More on this topic

Copper: Mine Prepares for Export

February 2019

Canada's First Quantum, owner of the copper mine in the province of Colon, Panama, plans to begin exports by the middle of this year.

The Panamanian mine, whose construction began in 2013 and demanded a $6.3 billion investment, expects to export 320,000 tons of copper concentrated per year.

Panama: Agreement Between Mining Companies for $60 million

May 2014

Petaquilla Minerals has agreed to the sale of 1,483 acres to the Canadian company First Quantum, owner of the Cobre Panama project.

FIRST QUANTUM MINERALS Press LTD.:

Agreement for $60 million signed between Minera Panama SA and Petaquilla Minerals Limited
May 8, 2014

Mining Bill to Void 25 Exploration Applications

November 2011

Should the draft legislation under discussion in the Assembly of Panama be approved, 25 applications for mining exploration in the Ngäbe Bugle region would be made void.

The bill would see the prohibition of granting concessions for the exploration and exploitation of metallic and nonmetallic minerals in Ngäbe Bugle. Only those extractions that benefit the region would be authorized.

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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