As of September 2023, Arequipa and Ica have consolidated themselves as the main exporting regions, after accumulating shipments of US$4,831 million (7.1%) and US$4,429 million (14.4%) respectivelyaccording to the Monthly Regional Trade Report of the Ministry of Foreign Trade and Tourism (Mincetur). “At Mincetur, we are working to promote the strengthening of national exports, a […]
Tag: mining
Moody’s: Mine closure impacts Panama’s deficit and growth outlook
The rating agency Moody’s said this Wednesday that the cancellation in Panama of the exploitation contract of the largest open pit copper mine in Central America, “makes it very likely” that the Central American country does not meet the deficit objective this year and in 2024 and that it affects the growth perspective of the […]
Congo would have displaced Peru as the second global copper producer, says Codelco
The president of the board of directors of the state copper company Codelco, Máximo Pacheco, assured that the Democratic Republic of the Congo (DRC) will replace Peru as the second world supplier of copper in 2023, while Chile remains in first place. According to information collected by Reuters, the Chilean Codelco highlighted the rapid progress […]
The largest copper mine in Central America, roots of a conflict
The Supreme Court of Panama declared this Tuesday “unconstitutional” a mining contract, an expected ruling after more than a month of social tension with marches, road blockades, million-dollar losses in the economy and outbreaks of violence. These are the main dates of the crisis around the largest open pit copper mine in Central America, operated […]
Farmers in northern Panama are losing everything in the midst of the mining crisis
“I lost lettuce, cabbage and I am saving the potato because it lasts a little longer, but if there is no opening of the streets, we are also going to lose that production”Elfry Rigoberto Rodríguez, one of the thousands of small producers affected by the road blockades that are disrupting the economy, told EFE. Panama […]
Chinese commercial presence in Latin America grew 35 times
In recent years, the Chinese economy has managed to position itself as one of the main trading partners of Latin America and the Caribbean. Bilateral exchange went from US$14 billion in 2000 to nearly US$500 billion in 2022, that is, it multiplied its value 35 times during this period, according to a report by the […]
Parliament of Panama approves the repeal of the mining contract
The National Assembly (Parliament) of Panama approved this Wednesday in the second of three necessary debates a bill that repeals the controversial contract with Minera Panamá, a subsidiary of the Canadian company First Quantum Minerals (FQM)amid a wave of anti-mining protests in the country. The plenary session of the Panamanian Parliament, with 71 seats and […]
Las Bambas: MMG revises upwards its copper production projection in Peru for 2023
MMGparent company of Las Bambas, increased its copper production forecasts in Peru and will end the 2023 financial year in a range of between 285,000 and 305,000 tons. According to the Production Results for the third quarter of 2023, the company globally produced 94,050 tons of copper and 59,229 tons of zinc in the July-August-September […]
Puno is one of the hardest hit by economic recession
After the Minister of Economy, Alex Contreras, admitted that the Peru is in recession, the regions are analyzing the situation of each of them. The president of the Chamber of Commerce and Production FistFrancisco Aquise, indicated that the highland region is the hardest hit by the economic recession. The most affected sectors are tourism, agriculture, […]
Anti-mining protests leave Panama’s capital almost deserted
Few cars and pedestrians were seen this morning on the City of Panama after the anti-mining protests that intensified last night and are expected to continue this Wednesday for the third consecutive day, despite the call for calm and dialogue from the Government and employers. The blockades on the Pan-American highway, which crosses the country […]