The Tocumen SA International Airport said this Thursday that “the Mint” the decision of the Administrative Court of Public Procurement that revoked the termination of the terminal expansion contract with Odebrechta work of more than 900 million dollars, for an alleged non-compliance, and announced the possibility of appealing to the Supreme Court of Justice. In […]
Tag: Panama
Odebrecht fails to pay fine in Panama bribery case
A Panama court determined that the Brazilian construction company Odebrecht failed to comply in 2023 with the payment of US$ 19.24 million, corresponding to the fine of US$ 220 million that was imposed on it in the Central American country for the bribery case, the Public Ministry (MP, Prosecutor’s Office) reported this Wednesday. The Compliance […]
It is not Chile or Brazil: which Latin American country will have the greatest economic growth in 2024?
According to October projections International Monetary Fund (IMF), the world economy could grow 2.9% in 2024, 0.1% less than what was outlined for 2023. In this context, the International Labor Organization (ILO) published its report in December 2023, which details the labor outlook, but also analyzes the economic growth of Latin America for this year […]
More than 500,000 migrants have crossed the Darién jungle in 2023, a historical record
More than 500,000 migrants have crossed the dangerous Darien jungle on their way to North America so far in 2023, a historical record of individuals who crossed this natural border between Panama and Colombiamost of them Venezuelans, official sources informed EFE this Wednesday. Of the 501,297 migrants who have crossed what is known as the […]
This is the economic impact of ‘losing’ a copper mine in Panama
The government of Panama estimates that the economy of the isthmus will grow between 1% and 2% next year from the previous estimate of 5%, due to the effects of the closure of a Canadian copper mine. First Quantum Mineralsan Economy Ministry official told Reuters. Furthermore, Hernán Arboleda, director of Public Policies of the Ministry […]
Canadian mining company promotes voluntary retirement of its collaborators in Panama
The Canadian company First Quantum Minerals (FQM) reported this Monday that it opened “a voluntary retirement program for the “collaborators” of the great copper mine that explodes in Panamaafter the Supreme Court of Justice of that Central American country declared unconstitutional the law contract that renewed a mining concession. FQM detailed in a statement that […]
Optimism and caution in Panama before arbitration for conflict with Canadian mining company FQM
Environmental activists and lawyers this Friday were cautious but optimistic about Panama’s chances of success in the face of the international arbitration initiated by the Canadian First Quantum Minerals (FQM), after the Panamanian Supreme Court declared unconstitutional this week the contract through which the largest mine of copper open pit of Central America. Minera Panamá […]
Cessation of a mine hits the economy and will increase uncertainty in 2024 in Panama
The cessation of operations of Panama Copperthe fourteenth largest copper mine in the world in terms of production and the largest in Central Americarepresents a hard blow to the country’s economy precisely at the gates of 2024, an election year and, therefore, full of uncertainty, analysts said. The experts valued that the Panamanian economy is […]
First Quantum warns of “catastrophic” results after mine closure in Panama
Panama’s decision to close the giant copper mine of the Canadian First Quantum Minerals Ltd ignores the rights of workers and does not consider the financial, social and environmental damages “catastrophic” which will cause its closure, the mining company warned. In a statement released Wednesday, the company said it remains open to a “constructive and […]
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 […]