Four years of exports of Panamanian Copper

Since Cobre Panama began operations in June 2019, copper concentrate has positioned itself as the country’s leading export item, representing on average more than 75% of the total of all goods that carry the country’s brand to international markets.
4.9 million wet tons is the volume of copper concentrate exported in 4 years.
In 4 years, 140 ships have been loaded and have exported copper concentrate to destinations such as China, Japan, South Korea, Spain and Germany.

Panama, June 14, 2023 – Today marks the fourth anniversary of the start of copper concentrate exports from the international port of Punta Rincón in the province of Colón and in this context, it is worth noting that the social, economic and environmental contributions of Cobre Panamá are significant, representing close to 5% of the GDP and 2.3% of the country’s total employment, with more than 40,000 direct and indirect jobs, as well as various biodiversity protection initiatives, according to Cobre Panamá’s country manager, Keith Green.

According to a study by INDESA, about US$5 of every US$100 produced in Panama is associated with the production of the copper mine directly, indirectly or induced. With respect to the province of Colón, approximately $17 of every $100 produced is associated and in the province of Coclé, $6 of every $100.

“We are proud to be able to provide opportunities for the future to our neighboring communities that allow them to improve their economy, educate their children, cultivate their land and start their own businesses. We are also pleased to invest in the development of our employees, who are highly trained, and that our 100% Panamanian copper contributes to the transition to clean energy,” said Green.

The mine is operated by more than 7,000 employees, 91% of whom are Panamanians and 67% of whom are from the interior of the country, which contributes to reducing existing territorial inequalities.

Approximately 2 out of every 100 jobs in the country are associated with the production of the copper mine directly, indirectly or induced by the consumption of the workers. In the case of the province of Colón, approximately 5 out of every 100 jobs would be linked, and in the province of Coclé, 4 out of every 100.

Since the start of exports in 2019, the mining company has exported 4.9 million wet tons of copper concentrate.