Weekly Report - 26 October 2023 (WR-23-43)

PANAMA: Unrest erupts as major mining contract approved

Thousands have taken to the streets across Panama to protest a new contract, recently greenlighted by the legislature, between the government led by President Laurentino Cortizo and Minera Panamá SA (MPSA), the subsidiary of Canadian mining company First Quantum Minerals (FQM), regarding copper mine Cobre Panamá. Panama’s single biggest foreign investment, the mining project is crucial to the country’s economy, representing some 4% of GDP. While signing off on the revised contract was a major priority for the Cortizo government, it remains contentious with civil society organisations, unions, and environmental lobby groups such as Centro de Incidencia Ambiental (CIAM), which are calling for it to be revoked. The protests - the biggest since the unrest which rocked the country in July 2022, precipitated by the rise in living costs [WR-22-28] - is threatening to prove a major challenge for the Cortizo government.

End of preview - This article contains approximately 971 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.