President plans to open doors to mining investment in Panama

(newsroompanama.com) President Ricardo Martinelli told a group of entrepreneurs Wednesday(March 24) that he is willing to make changes to the Mining Act to facilitate investment in Panama.

He mentioned  Canada, Korea,   and the US and Canada ,and said there are "great opportunities "for mineral development in the copper deposits that the country has.

"We told the president of South Korea [Lee Myung-Bak] I wlll gladly make the change, I want the Korean government, with Canadian investors, U.S. and stock market investing in a mining company here”, Martinelli said .
The president said that "Panama is a great opportunity in mining," to ensure that the Cerro Colorado mine in the province of Chiriqui, "has proven reserves larger than those of Lieutenant mine in Chile."

He added that the country can not be bedridden and lose this "great opportunity" for investments that may arise in this sector.

"Panama has a bright future in mining, and where there are copper, gold and there is no money," said Martinelli, who gave the example of a mine in Panama that will open 2013 with an investment of $4 billion. Newsroom Panama carried the story of the Minera Panama development, early this month.

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Original Source: http://www.newsroompanama.com/business/986-president-plans-to-open-doors-to-mining-investment-in-panama.html
Date Retrieved: March 25, 2010