#FirstQuantum #CobrePanama #Mining #CopperConcentrate #EnvironmentalRisk #Panama #CopperExport #MiningSafety
In a recent development, First Quantum Minerals’ subsidiary, Minera Panamá, has released a statement through its Cobre Panamá mine, highlighting a significant environmental and safety concern. This arises from the prolonged storage of copper concentrate at the mine, a situation brought about by an enforced closure last December by the government of Panama under President Laurentino Cortizo.
The statement from Minera Panamá outlines that ongoing monitoring activities have revealed an uptick in chemical reactions within the stored copper concentrate. These reactions are causing dangerous gases to be released and the temperature of the material to rise. Such conditions not only pose a potential environmental hazard but also endanger the health and safety of personnel assigned to maintenance work at the facility.
Given the severity of the situation, the imperative of transferring the copper concentrate has been stressed. The normal process of quickly selling this product abroad, which ensures its stability and safety, has been halted due to the lack of governmental authorization following the mine’s closure. Minera Panamá now awaits the green light from authorities to proceed with exporting the concentrate to mitigate these highlighted risks.
Adding to their proactive measures, Cobre Panamá has committed to utilizing the proceeds from the future sale of the copper concentrate to fund the site’s Preservation and Safe Management Plan. This plan, necessitating between $15 million and $20 million monthly, underscores the mine’s dedication to environmental preservation amidst the dispute.
On March 26, 2024, in accordance with a request from the Ministry of Commerce and Industries (MICI), the mining company furnished an updated version of this plan along with a comprehensive report detailing the current status of the stored copper concentrate. This documentation was critical, especially given that processing operations at the site were already suspended.
Concluding their communiqué, Minera Panamá emphasized the importance of transparency and cooperation in the management of this precarious situation. By actively engaging with all stakeholders and providing clear, transparent information, they aim to ensure a responsible and safe resolution that benefits all parties involved.
Comments are closed.