Cobre Panama will deliver to the MICI the first phase of a preliminary preservation and safe management plan on January 16.

Panama, January 10, 2024 – On December 29, the Ministry of Commerce and Industries (MICI) requested Cobre Panama to prepare a proposal for a preservation and safe management plan within 10 working days. This plan must ensure physical and chemical stability related to mining facilities and environmental management, including personnel requirements, monitoring, evaluation, among others.

Planning and preparation of the environmental stability and asset integrity measures required after cessation of operations is a process that typically takes several years to complete. In accordance with international best practice, this begins well in advance of the cessation of production and takes advantage of the mine operator’s experience and expertise. An abrupt cessation of operations prior to the end of mine life is unusual, requiring additional planning and preparation steps to be considered and undertaken. Therefore, Cobre Panama has informed the MICI that the company will submit a preliminary draft for the initial phase of the preservation and safe management plan, within the 10 working day deadline established by the MICI. This represents an initial plan based on our unique knowledge of the site and will need to be adjusted and updated regularly to address additional project phases and steps as planning and preparation requirements evolve.

Cobre Panama has been informed that the Intergovernmental Oversight Commission will conduct a technical inspection on January 11, as part of the MICI’s Action Plan for Cobre Panama. We welcome the opportunity to showcase the scale and complexity of Cobre Panama to officials from the Ministries of Commerce and Industry, Labor and Labor Development, Environment, Government and Public Security, as well as representatives from the Panama Maritime Authority, the National Customs Authority, the National Authority of Public Services and the National Secretariat of Science and Technology. Cobre Panama is committed to transparency and constructive dialogue. We will also welcome the participation of observers from academic, social and civil society organizations and media representatives as part of this delegation.

Cobre Panama reiterates its willingness to be part of the solution and open a constructive dialogue. The safety of employees, the surrounding communities and the protection of the environment are our priorities.

To learn more, visit transparenciacobrepanama.com.