The mining sector plays an important role in the industrial sector; therefore, decisions made about its future will affect its growth projections, which are expected to gradually increase compared to last year, when a 1% growth was recorded due to street closures and construction paralysis. While this audit is being finalized, the government is considering the possibility of authorizing the processing of the already extracted rock to mitigate environmental risks, reactivate employment, and invest its proceeds in the development of various social projects nationwide. In parallel, a comprehensive audit is being developed that will allow the Executive Branch to make a final decision on the project; to date, 2 reports on this process, which seeks to verify the environmental, social, and fiscal management of the copper mine, have been delivered. Although Rosmer Jurado, president of SIP, stated that he maintains a 'positive' economic outlook for Panama in the short term, mainly based on the infrastructure investments announced by the Ministry of Public Works (MOP), the logistics and port modernization carried out by the Panama Canal Authority (ACP), the expansion of public transport, and the strengthening of the energy sector, experts believe that its long-term permanence will depend on the resolution of the mining issue, which is expected to be decided in June. Gonzales reiterated that at this moment, the mine is executing the Preservation and Safe Management Plan, approved by the Ministry of Trade and Industry (MICI), and is giving maintenance to the equipment that requires the support of 30 people each. A report from the Panama Industrialists Union (SIP) reveals that mineral extraction represented, in the purchase of inputs and payment of services, around 1,216 million dollars, and in the sale of supplies some $713 million, figures that have ceased to be perceived since the suspension of the project, affecting job generation and income from a sector that contributes 4.6% of the country's Gross Domestic Product (GDP); therefore, its reactivation is key. Mine workers ask the public to go to reliable sources to clarify their doubts on the matter so that they do not fall into the disinformation of those who oppose development.
The future of Panama's mining sector is in question
The Panamanian government is considering the resumption of operations at the copper mine after its suspension. A decision is expected in June and will be based on the results of an audit that verifies environmental, social, and fiscal management. Reactivating the project is key for the country's economy, as the mining sector contributes 4.6% to the GDP.
