Marlene Testa
mtesta@laestrella.com.pa
between 2012 and 2013, Petaquilla Golds payment to the Panamanian State $3.1 million in royalties. In 2014, has only paid $16.300 .
The Ministry of Commerce and Industry (MITI) gave him an ultimatum to the Golds Petaquilla mining company. The institution granted a period of 180 days for the company to meet its obligations to the Panamanian State.
Among the irregularities on the part of the company, the ICIM mentions default in the payment of royalties, lack of maintenance to the works of the mining project, omission of the contributions and employer worker fees from the Social Security Fund, among others.
To this, the official spokesperson for the company, Jorge Isaac Obón, said to the EFE news agencies that will meet the obligations outstanding after the ultimatum given by the Government of Panama.
The company was exposed to a cessation of its operations as a result of economic insolvency. But, less than a week ago the mining announced that it had received a trust fund of $25 million. To this, Obón added that no later than next March will reach the production of gold that was before it was closed down in November of 2013.
Petaquilla must pay annually to the State a 2% of its production in royalties after having been granted a 30-year concession to exploit gold.
Related Topics Economy in Panama Petaquilla Mining
