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Minera Panama suffers another setback for land
OLIVARES MARIA FE
molivares@laestrella.com.pa
For the third time, a government entity resolves against mining. Intensifies the struggle for concessions
PETAQUILLA. The eligibility is now mining concession areas gold North San Juan river and river Belencillo Petaquilla. Photo: Omar Batista | The Century
10.25.2012 - 12:00:00 AM - PANAMA. Two weeks before the deadline given to the holders of shares of Petaquilla Minerals Ltd. (PTQ) for the sale of the shares to Inmet Mining Corp., Mineral Resources Management (DRM) of the Ministry of Trade and Industry issued a new resolution that favored PTQ.
Less than a month ago, both the National Land Authority (ANATI) as the other resolutions issued DRM also benefited this mining company.
The latest setback was suffered by Minera Panama this Oct. 22, when the Department of Mineral Resources denied a claim on the districts of North Cocle and San José del General. The state institution declared untimely and void the letter made the February 3, 2010 by the representatives of MPSA, Morgan & Morgan, who opposed granted eligibility to Petaquilla Minerals Ltd. on the zones.
The resolution also stated that DRM Minera Panama presented its claim after more than a year after the deadline for opposition granted by article 178 of the Code of Mineral Resources.
Since September 25, the institution had claimed eligibility to PTQ granted in 2003 on the San Juan. At that time, the Department of Mineral Resources said MPSA also not filed the claim in due time.
Moreover, on 18 October the ANATI MPSA application rejected the lease of a polygon of 7.543 hectares in the district of North Cocle.
This area, like the area in Cocle del Norte and San José del General, adjacent to the mining concession Petaquilla established by Law 1997.
According to a brief filed by Minera Panama to Mineral Resources on February 3, 2010, requested the concession areas PTQ-like La Esperanza and San Juan-interfere and prevent the development of the project (Cobre Panama) covered by the contract with the State for metal mining.
The document notes that mining could not achieve due compliance and implementation of the object and purpose of the Act 9 contract if he is not granted concessions on areas that were critical to the project.
So far, Minera Panama has refrained from commenting and claims to be respectful of local authorities.b
AI
