Minera Panama has sent a note to the Panama Maritime Authority (AMP) informing them of the "imminent suspension of mineral processing operations at Cobre Panama, due to the restriction on loading copper concentrate at the port of the mine in Punta Rincón”.

The note signed by Alan Delaney, general manager of Minera Panamá SA, was sent to Noriel Arauz, administrator of the Panama Maritime Authority, on Sunday, February 19.

“Our team has done everything possible to create additional storage space. However, without the ability to load and ship our product, we are about to run out of storage capacity on site. Therefore, as a consequence of the concentrate loading restrictions, we have no alternative but to suspend processing operations at midnight Thursday, February 23. This suspension would lead to substantial and irreparable damage to the mine and all those who benefit from it, ”said the Minera Panama note.

The note requests support to resume loading operations at the port.

If we are allowed to load the vessel, MPSA (Minera Panamá SA) would have the storage capacity to continue operations for approximately 15 days.”

"This request also indicates that they are requesting the loading permit while “meetings with the Government continue regarding a renewed concession contract for Cobre Panama. In recent weeks, in fact, significant progress has been made, and we believe it is important to give an opportunity for this to continue," said Minera Panamá

The note ends by noting that “it does not seem conducive for all this to be endangered, nor that all those who in some way benefit from Cobre Panamá should be harmed. Therefore, we respectfully request that the AMP urgently take the necessary measures to avoid this interruption and detriment to the production of the mine and Panama”.

Currently, the Government of Panama and Minera Panamá are in negotiations for the exploitation of the copper mine in Donoso, the previous contract was declared illegal by the Supreme Court of Justice.