Comments on: Panama’s top court rules First Quantum contract unconstitutional /panamas-top-court-rules-first-quantum-contract-unconstitutional/ No 1 source of global mining news and opinion Wed, 29 Nov 2023 17:44:13 +0000 hourly 1 https://wordpress.org/?v=6.8.1 By: octavio /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318622 Wed, 29 Nov 2023 16:31:52 +0000 /?p=1133368#comment-318622 In reply to Carlos Gardel.

Hello Carlos, No one is talking about expropiation of the mine operation. We want the Mine to close down completely, as well as any other mining operations. We want a proper closing including remediating damages to the ecosystem and rivers as much as possible. The closure if properly negotiated will take som years but once it happens the dmages to environment should be properly managed and a fund should be left for the health care of all affected as the region wher the mine operates has incresed dramatically in child mortality, child deformations and pancreatic cancer due to the pollution of the plant. Watch this documentary by DW “cobre sucio” | “dirty copper” to get a better idea of what is happening in panama near the mine. Panama is better off without mining.

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By: octavio /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318620 Wed, 29 Nov 2023 16:16:58 +0000 /?p=1133368#comment-318620 In reply to Bobby44.

Dear sir, FQM is no saint, yes, they paid bribes, there is no doubt about it in mind of Panamenian honest people. No one changed their minds, the country is overly against mining, what happened was that the greed of top corrupt government officials is such that they aproved a contract which is easy to demosntrate that violates the constitution. What the government did not expect was in this one case was that the people would react as we did. They counted on the usual behaviour which is to let things slide and getting away with their dirty actions. Not this time. Sorry for all who, like you, thinks that the government chnaged its mind, it is not the case here. The government and FQM, both, knew that the contract was flawed and inconstitutional, we the people knew it also and fought to right the wrong doing. The current government and many will pay the price for this wrong doing many years, we all hope. As for begging for foreign investors, we welcome those who help the country grow ina balance and sustainable way. As for “paying off the right people when dealing with countries like this” we rather you keep your money and dont help corrupt public officials, we already have a difficult task at hand trying to erradicate corruption, we dont need or appreciate people or companies like FQM who come and assume thay they can buy the freedom, health or wellbeing of a country to make a coin. Panama is better of without mining, go mine somewhere else.

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By: octavio /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318617 Wed, 29 Nov 2023 15:19:07 +0000 /?p=1133368#comment-318617 In reply to Andy S.

Yes, we want investment in the form of nondestructive activities, activities that are ecofriendly and also improve the quality of life and health of our people. Open sky mining is not such activity. Mining undeniably generates jobs but in exchange of pollution, water poisoning, health isues for the neighboring locals and destruction of the surroundings. One thing is to mine in the middle of a desert, a totally diferent one is to mine in the mioddle of a rich biodiverse ecosystem. Tha fault is not with the mine itself, is with the corruptr goverment oficials that negociated an operation without taking in considerationthe public sentiment nor included sufficient clauses for preservation of the nature, health guaranteees for compensating the inhabitants who get poisoned which has proven to be a common fact in similar operations in Chile. As with anything you can do a good job to contain damage and guarantee health and restoration of the affected lands if this is included and supervised in the contract, or you can do a piss poor job of taking for granted all this things in exchange for a pretty penny. Just because you can does not mean you should and in the case of mining in Panama, the people choose not to have this destruction and poisoning, even if we must relinquish a meagre income. The mine does not pay taxes nor shares the income, it mearly pays a projected fee according to “declared” exportations of Cooper, leaving out the other precios minerals taht it is also extracting which increase the earnigs manyfold. The answer is still thanbks but no thanks. We will definetly find other sustainable ways to grow. Bye FQM, go exploit someone else.

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By: KJ Osbourne /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318616 Wed, 29 Nov 2023 15:14:44 +0000 /?p=1133368#comment-318616 I am a foreigner so I do not understand this completely. From what I see, this mine has been in planning, construction and operation for 6-7 years. Why has this only caught the attention of the average Panamanian now?
What set off the protests?

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By: Anton /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318600 Wed, 29 Nov 2023 09:23:13 +0000 /?p=1133368#comment-318600 In reply to DENNIS D SMITH.

Das sehe ich auch so. Kürzlich war ich vor vier Wochen in Panama, sodass ich die Sperren live miterlebt habe. Das Problem ist nicht Mining, sondern eine mehr als korrupte Regierung. Hier werden arme Menschen von Gewerkschaften manipuliert. Und Umweltschutz, dass ich nicht lache. An jeder Strassensperre gibt es haufenweise Müll, und gegen eine Luftverschmutzung tut auch keiner was, es werden Autoreifen verbrannt. Die Menschen sollten sich an der eigenen Nase fassen, bevor Steine auf andere geworfen wird. Und Thunberg, Caprio und co wollen ja auch nur in den Medien präsent sein. Der Verlierer bei den Streiks wird Panama sein, wer will dann noch dort investieren….

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By: Nassir El Hadj /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318570 Wed, 29 Nov 2023 01:47:16 +0000 /?p=1133368#comment-318570 In reply to Bobby44.

I notice a racist tint to your comment.

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By: Nassir El Hadj /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318569 Wed, 29 Nov 2023 01:45:55 +0000 /?p=1133368#comment-318569 In reply to Carlos Gardel.

Environmentally, open-pit mining is devastating. It consumes enormous amounts of water, heavily pollutes water and air, disfigures landscapes, and permanently destroys habitat.3 Even after pits are exhausted and sites are rehabilitated, the pit area retains elevated risks of erosion and flooding. Panama is avoiding a huge environmental disaster in its horizon by rejecting this one sided
20 year contract with First Quantum Minerals.

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By: Bobby44 /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318559 Tue, 28 Nov 2023 22:40:44 +0000 /?p=1133368#comment-318559 In reply to Andy S.

Andy.. you are correct. Panama will pay in real dollars for this blunder. No bananas accepted. They will pay out for changing their minds and they will pay out in lost future investment. First Quantum must learn that when you deal in countries like this you must payoff the right people because they can change. I sold my investment because they were dealing with African republics. Missed this one! Missed this one.

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By: Karen /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318554 Tue, 28 Nov 2023 20:33:58 +0000 /?p=1133368#comment-318554 In reply to DENNIS D SMITH.

What in the hell are you talking about? Do you reside in Panama? I do. Panama’s future doesn’t depend on mining. Sanctions (an act of war) were placed on Iran and Venezuela, not failures to honor contracts. Please, get your facts straight.

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By: Carlos Gardel /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318552 Tue, 28 Nov 2023 20:30:21 +0000 /?p=1133368#comment-318552 This is not going to go well for Panama. As a recent example YPF was appropriated by the Peronist govermentin 2014. 9 years later thety lost an arbitration award of US$16B and the judge ordered that Argentina has to start paying straight away. Minera Cobre Panamacost US$10B to build, so they will claim recovery of capital and lost profit over a 20 year life of mine and your talking another $10B. This is going to cost every Panamaenian for the next 30 years.

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By: Andy S /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318549 Tue, 28 Nov 2023 18:40:08 +0000 /?p=1133368#comment-318549 In reply to Victor Vasquez- Lacayo.

Victor, your country begged for foreign investors to come in and invest to diversify your economy. You welcomed the 10 billion USD investment and then changed your mind. This will not go unnoticed in the international community.

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By: DENNIS D SMITH /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318537 Tue, 28 Nov 2023 15:10:19 +0000 /?p=1133368#comment-318537 The standard of living in a country depends on multiple items, the most important is exporting more value than you import. In addition, the loss of 40,000 jobs is a major setback. Panama has violated the fundamental rule of law which is required in order to attract any investment. The country is unfit for business, domestic or foreign. There will be consequences, just ask Venzuela, Iran, S. Africa, DRC, early 1900’s Mexico and many many more failed economies due to failed rule of law.

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By: Victor Vasquez- Lacayo /panamas-top-court-rules-first-quantum-contract-unconstitutional/#comment-318531 Tue, 28 Nov 2023 13:40:35 +0000 /?p=1133368#comment-318531 FQM, GO HOME! Your presence in Panama is illegal, and you are not wanted in this country

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