Cobre Panama conducts second voluntary retirement day for collaborators

Penonomé, January 16, 2024 – Cobre Panamá has invited more than 1,500 employees to participate in the second session of its special voluntary retirement program in Penonomé (Coclé). This program was initially announced last year following the cessation of operations at the mine and the request of the Minister of Commerce and Industries to halt all production activities at Cobre Panama.

The Unión de Trabajadores de Cobre Panamá (UTRAMIPA), the majority workers’ union, also participated in the session after signing an agreement to open this special voluntary retirement program for those collaborators who wish to request it. This option consists of a mutual agreement, which includes the payment of all the money legally owed, expressing the company’s support to the more than 2,900 collaborators who have taken advantage of this voluntary retirement call to date.

The special voluntary retirement program will include the payment of all amounts established by Panamanian labor legislation, which are: accrued vacation, accrued thirteenth month, seniority premium and 100% of the corresponding severance payment, as established in Article 225 of the Labor Code.

Approximately 1,400 Cobre Panama employees will continue to perform their duties in preservation and safe management (non-operational) tasks, fundamental to implementing environmental stability and asset integrity measures for responsible environmental management of the site.

To learn more, visit transparenciacobrepanama.com.