The President of the Republic, José Raúl Mulino, announced that in June the National Government will announce the country's final decision on the future of the Cobre Panamá copper mine, operated by First Quantum Minerals and located in Donoso, Colón province. The head of state informed that the elected president of Chile, José Antonio Kast, offered support for the process through specialized technical assistance and the collaboration of three mining experts, as part of the analysis being carried out by the Panamanian executive branch. The Cobre Panamá mine, considered one of the largest copper deposits in the world, suspended operations in 2023, since then generating high national expectation due to its economic, labor, and fiscal impact. 'I hope and trust that by June we will announce to the country the decision made by the Government,' expressed Mulino, while assuring that the mining project is being evaluated in a technical and responsible manner. The president detailed that the mine is currently undergoing an environmental audit, conducted by a French company, in order to determine its real situation and the conditions in which its future could be defined. Mulino also highlighted that part of the resources recently paid by the mine to the Panamanian State will allow for the creation of 5,000 new jobs through the 'My First Job' program, directly benefiting young people seeking to enter the labor market. The funds come from the marketing of the copper concentrate that remained in the mine after its closure in 2023 and was removed last year. According to an audit conducted in December 2024, the volume of concentrate amounted to 128,017 metric tons. According to official figures, the royalties received by Panama exceed 29 million dollars, which will be destined for both employment programs and the execution of infrastructure works at the national level.
