10 reasons to understand each other

Panama, December 11, 2023 – Cobre Panama respects the clamor of the Panamanian people and reiterates our willingness to be part of the solution and to open a constructive dialogue.

In view of the ruling of the Supreme Court of Justice (CSJ), as well as the requirements received from the Ministry of Commerce and Industry, it is essential to act immediately and responsibly to ensure the environmental stability of the site and the integrity of Cobre Panama’s assets.

Measures must now address a variety of environmental, social and economic factors, which must be incorporated into the safe management of the site. This process requires detailed and multifaceted preparatory work over a period of time to ensure successful implementation.

We wish to contribute to developing the necessary measures to establish environmental stability and asset integrity, not only for reasons of obvious knowledge and experience, but as a moral obligation. To provide transparency about the full implications of this process, we bring 10 fundamental reasons why we will need to work together to ensure a socially and environmentally sustainable future for the area, the communities and, therefore, the country as a whole.

1. TO AVOID SERIOUS ENVIRONMENTAL CONSEQUENCES
The unplanned cessation of mine operations requires preparation that is different from existing plans, in line with international practice. Failure to do so can lead to serious environmental problems in the future.

2. IMMEDIATE ACTION IS REQUIRED TO PRESERVE ASSETS
Current mining equipment is also necessary for the stability and environmental integrity measures that must be implemented. It is imperative to maintain the safety and condition of these assets, protecting them from deterioration and use in informal extractive activities.

3. TO CONTINUE HAVING CLEAN WATER
Cobre Panama is located in an area of high rainfall, which requires continuous water management to maintain water quality. The lack of exhaustive control would affect the natural state of the water, also harming aquatic life.

4. TO ACCELERATE BIODIVERSITY RESTORATION
The adoption of international rehabilitation practices will help biodiversity restoration to be more effective in the short and long term. Poor restoration will lead to degradation of the area.

5. TO PROVIDE ENVIRONMENTAL STABILITY
Immediate implementation of actions that reduce the likelihood of ongoing environmental problems requiring indefinite treatment and management is key.

6. TO ENSURE SAFETY
Abandoned mining infrastructure can pose public safety risks, such as landslides, collapse or instability of structures, which can cause serious damage.

7. TO BE IN GOOD HANDS
This phase of the mine needs to be managed by a highly skilled team with in-depth knowledge of hydrology, geochemistry and geotechnical engineering.

8. FOR THE FUTURE OF WORKERS
As environmental stability and asset integrity measures are implemented at the site, workers involved in the process need clarity about their future as they continue to contribute to the country.

9. TO ENSURE LAW AND ORDER AT THE SITE
Currently, access to the mine is hampered by illegal road and international port blockades. The free movement of people, supplies and equipment both into and out of the mine site is necessary for state operations at the site to be managed properly and responsibly.

10. TO ENSURE A SUSTAINABLE FUTURE
The implementation of environmental stability and asset integrity measures is a necessary first step to ensure responsible, ongoing site management following the sudden cessation of operations. Further work will be necessary to plan for environmental and social impacts that may arise in the future.

To learn more, visit transparenciacobrepanama.com.