Petaquilla Minerals Ltd. (fka PTQMF)

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MTI launches ultimatum to Petaquilla Gold


Wednesday January 21, 2015 - 12:00 a.m.
The Canadian Petaquilla Minerals in 1997 obtained the rights to mine gold in Molejón, Donoso, in the province of Colón


Kemy Loo Pinzón
[e-mail]
The Ministry of Trade and Industry (MITI) today informed the representatives of Petaquilla Gold that have 180 calendar days for the company to rectify the faults to contractual obligations.


Among the failings of the company are the default in the payment of royalties, lack of maintenance works mining project, omission of contributions and employers contribution to the Social Security Fund, a statement of the ICIM.


'The action taken reflects the interest of the Government to ensure that all mining projects run in compliance with legal obligations and to safeguard high environmental standards and safety' said the owner of the ICIM, Meliton Arrocha.


The Canadian Petaquilla Minerals obtained in 1997 the rights to mine gold in Molejón, Donoso, in the province of Colón.


In December 2014, a hundred workers spoke out publicly to demand unpaid wages.