Panama is gearing up for its presidential elections this Sunday, following months of tumultuous protests that led to the closure of Central America’s largest copper mine, Cobre Panamá. The closure, announced in November, was a historic ruling by the government, sparking debates among the leading candidates about the economic and political implications for the country.
The issue of the mine has taken center stage in the election campaigns of the frontrunners, including former cabinet minister José Raúl Mulino, former President Martín Torrijos, former foreign secretary Rómulo Roux, and independent candidate Ricardo Lombana. Some commentators have even referred to the mine as “another candidate” in the race, highlighting its significance in Panama’s economy.
With estimates suggesting that the closure of the mine could take over nine years and cost around USD 800 million, concerns have been raised about the impact on Panama’s economy. The decision to shutter the mine, which represented a significant portion of the country’s GDP, has raised questions about the future direction of Panama’s mining industry.
Furthermore, environmental concerns have been raised regarding the closure of the mine, with previous experiences at other mining sites in Panama resulting in environmental damage. Detection of cyanide in nearby water sources after the closure of other mines has underscored the importance of proper environmental safeguards in the mining industry.
As the country braces for the upcoming elections, candidates’ positions on the mining industry and environmental protection could prove decisive. With most candidates pledging to uphold the ban on new mining concessions enacted in response to protests, the future of Panama’s mining sector hangs in the balance. Stay tuned as Dialogue Earth delves deeper into the background of Cobre Panamá mine and the road ahead for Panama.
