By The Rio Times | Created at 2026-09-30 09:42:03 | Updated at 2026-09-30 11:08:20
2 hours ago
PANAMA · MINING
Key Facts
- —What happens A three-minister commission hands its conclusions on the closed Cobre Panamá copper mine to President José Raúl Mulino at 8 a.m. Panama time on 30 September 2026 (TVN, Presidency).
- —Decision No decision is part of the handover; the government has said since July 2026 that Mulino will decide before the end of 2026 (TVN, MICI).
- —Audit score An audit by the firm SGS, published on 19 June 2026, rated the mine 87.73% compliant overall, with reforestation programmes as low as 40.7% (TVN).
- —Mine today Mining has been halted since November 2023; since May 2026 the operator has only processed stockpiled ore, with about 3,000 staff at the end of June 2026 (First Quantum).
- —Pressure Panama’s Mining Chamber (Camipa) asked the government on 28 September 2026 to decide and move towards an orderly restart (TVN).
Three ministers are due to deliver their conclusions on the Cobre Panamá mine to President José Raúl Mulino. He has promised to announce the decision himself later.
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Panama’s President José Raúl Mulino is due to receive a commission’s conclusions on the closed Cobre Panamá mine on 30 September 2026. The handover is a step towards a decision, not the decision itself.
A Handover at the Presidential Palace
The ceremony was set for 8 a.m. Panama time (13:00 UTC) at the Palacio de Las Garzas, the presidential palace. The public broadcaster TVN reported the plan on 29 September, citing the Presidency.
The commission is led by the Ministry of Commerce and Industry (MICI). Its members are Commerce Minister Julio Moltó, Economy and Finance Minister Felipe Chapman and Environment Minister Juan Carlos Navarro.
The three ministers spent months on the file with their teams and outside experts. They have not said publicly which options their conclusions favour.
Why the Mine Stands Still
Cobre Panamá lies in the district of Donoso in Colón province, on Panama’s Caribbean side. It belongs to Minera Panamá, a subsidiary of the Canadian company First Quantum Minerals.
In November 2023 the Supreme Court declared Law 406, the contract between the state and the company, unconstitutional. The ruling followed weeks of street protests, and extraction stopped.
Since then the site has been under a Preservation and Safe Management plan. On 7 April 2026 the government allowed the company to process ore that had been dug up before the shutdown.
First Quantum reported 3,216 tonnes of copper from that stockpile in the second quarter of 2026. It expects 30,000 to 40,000 tonnes this year, a fraction of the mine’s former output.
What the Ministers Were Asked to Weigh
Mulino created the commission on 4 June 2026. He said decisions on mining had to rest on clear, objective data from international experts, not improvisation.
The main input is an integral audit by the inspection firm SGS, published by the Environment Ministry on 19 June 2026. It gave the mine an overall compliance score of 87.73 out of 100.
Technical and operational standards scored highest, at 90.20 points. Environmental compliance reached 87.64 points.
The audit also found weak spots. Reforestation, restoration and species reintroduction programmes reached only 40.7% to 45.7% compliance, and Navarro said 322 more hectares were cleared than permitted.
The commission also received a study from the National Council of Private Enterprise (CONEP), Panama’s main business federation, on 14 September. MICI said then that the commission had adopted no decision and that its mandate was analysis and recommendation.
Jobs and Money on One Side
In July, Moltó said more than 40,800 people had lost work directly or indirectly because of the closure. He added that unemployment in nearby Coclé province rose from 4% to 13%.
Chapman said Panama had forgone more than US$6.3 billion in economic output in 32 months. Panama uses the US dollar as its currency.
On 28 September the Panama Mining Chamber (Camipa) urged a decision. It recommended an orderly restart under a solution fully compatible with the constitution and current law.
Water, Forests and the Law on the Other
Navarro has said the abrupt closure did not remove environmental risk. About 38 million tonnes of mineralised rock remain on site and could produce acid drainage if poorly managed.
Environmental groups have questioned the audit itself. On 18 August a technical group on mine closure asked Navarro to reject it, citing 155 of 371 commitments without enough evidence.
The government has also drawn limits. Moltó said in July that the old concession is unconstitutional and will not return.
In September he added that the state respects and obeys the Supreme Court ruling.
What Comes After the Report
Moltó set three conditions for any option: state sovereignty over the operation, no costs for Panamanians, and legal certainty for investors. Mulino said on 1 July he would be the first to announce the outcome.
He also said a new contract would not need a law passed by the National Assembly. The government has repeatedly set the end of 2026 as its deadline.
First Quantum said in July it was ready to engage constructively with the government. It has not commented on the content of the ministers’ conclusions.
What It Means for Residents and Investors
For people in Donoso, Coclé and nearby towns, the report brings a date closer but not an answer. Their jobs, shops and local suppliers depend on what Mulino chooses.
For investors, the handover narrows the timeline without removing the uncertainty. The next step is Mulino’s own announcement, which he has promised before the year ends.
More: Cobre Panamá mills its stockpile, not a restart · The audit that found the mine broadly compliant. Panama news, every day from The Rio Times.
Frequently Asked Questions
Has Panama decided to reopen the Cobre Panamá mine?
No. On 30 September 2026 President Mulino receives the conclusions of three ministers, and he has said he will announce the decision himself. The government has set the end of 2026 as its deadline.
Why was the Cobre Panamá mine closed?
In November 2023 Panama’s Supreme Court ruled the mining contract, Law 406, unconstitutional after large protests. Extraction stopped, and the site moved into a preservation and safe management phase.
Is any copper produced at the mine now?
Only from ore dug before the shutdown. The government approved processing of that stockpile on 7 April 2026, and First Quantum expects 30,000 to 40,000 tonnes of copper from it in 2026.
Sources: TVN Noticias · TVN Noticias · TVN Noticias · TVN Noticias · TVN Noticias · Ministry of Commerce and Industry (MICI) · First Quantum Minerals · TVN Noticias
