Panama's Copper mine could start exporting minerals in 2019

Panama's Copper mine could start exporting minerals in 2019
  • @PresidenciaPma

Panama's president, Juan Carlos Varela, has verified that 62% of the Panama’s Copper mine in the Caribbean province of Colón has advanced, and said that in January of next year it will be out the first export of minerals.

"This project has ceased to be a speculation and has become a reality for the benefit of the workers and the national economy," Varela said during the tour of the plant, the State Communication Secretariat reported.

It is estimated that this mining project can generate 6,500 direct jobs for Panamanians.

Varela said that once it enters operations, this mine becomes an important source of foreign exchange to the country behind the canal and tourism and assured that by January 2019 the first ship with export of minerals could leave.

The project contemplates the export of some 320,000 metric tons of copper and the requirement to reforest 11,000 hectares of vegetation.

Copper Panama, which in May 2016 began construction of its civil works, has an investment of 5.5 million dollars, one of the highest by the private sector in the country. It is expected that once it takes office it generates approximately 320 tons of copper per year.

A life expectancy for the exploitation of copper in this project of about 35 years is contemplated.

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