Swiss financial firm UBS projects that Panama’s copper mine in Donoso, Colón province, will restart operations in late 2027 and return to full production by 2028. The forecast comes as the government reveals staggering daily losses since the mine’s closure.
Minister of Economy and Finance Felipe Chapman disclosed that Panama loses $5.9 million every 24 hours due to the halted operations. The high-level commission tasked with analyzing the comprehensive mine audit is set to present its recommendations to the Executive before year-end.
Minister of Commerce and Industries Julio Moltó assured that the decision will be made transparently, with absolute sovereignty and in defense of the national economy. Meanwhile, Environment Minister Juan Carlos Navarro reiterated his commitment to environmental compliance and the safe management of the mine site.
UBS noted that recent progress in the industry is ‘encouraging,’ though continued volatility is expected in related company stocks. The restart is anticipated to bring greater gains for stakeholders, extending beyond current mineral reserve processing.
Article and image source: panamaamerica.com.pa
