We HAVE discussed privately for some time. FACT!
No one here even mentioned that the Pan American Highway was
closed!!! Out of the loop much??
Those of us who keep in touch talked about this blowing up in FQM's face as part of government pressure over a month ago. Complaints and questions have been referenced everywhere, even outside Panama. PTQ can go to court where they have won seven different times in the last three years and ask that FQM's concession be revoked for breach of Panamanian Law, their concession agreement, and their agreements with Petaquilla Gold, Ltd.. Timing could not be worse for FQM right in the middle of election cycle.
FQM has greatly reduced their workforce as anyone living in Cocle can tell you. On the other hand PTQ has taken great pains to maintain their work force. This is just the beginning for a very rough ride for FQM IMO.
FIRST QUANTUM MINERALS CAUGHT SHIPPING IN FOREIGN WORKERS.
"Hiring Filipino personnel by Minera Panama , which develops copper project in the district of Donoso, has alerted a group of subcontractors and staff who fear being displaced by cheaper labor work.
It was reported that the transnational subsidiary of First Quantum and Filipino staff would have moved from having a project in Zambia , Africa , and the figure would reach 2,000 workers supposedly .
Todd Clewett , country manager of First Quantum in Panama , admitted that the company has hired 30 trainers from the Philippines who are giving lessons in this aspect Panamanian workers .
But he said that 89 % of project workers are Panamanians and over 55% of the provinces of Colon and Cocle.
Panamanian law allows contracting company that only 20 % of its workforce is foreign, if you are unable to get the Panamanian human resource.
The theme of the Filipinos and sparked protests . Subcontractors and the National Trade Union of Construction Workers ( Suntracs ) closed the Interamerican Highway on January 30 in protest of the dismissal of Minera Panama and the announcement of the hiring of Filipinos.
Clewett said the company develops its mining projects directly, running their jobs without subcontracting.
In addition , said Clewett are not laying off staff , but increased the workforce, but will refrain from outsourcing model .
However, the population of Penonomé has reported a decline in its economy since First Quantum took the proposed copper mine .
Unemployment soared hotels and many people reported losing their jobs.
Cost cutting is in keeping with the promise made to First Quantum shareholders Inmet trying to reduce a billion dollars in proposed spending in 6000 estimated $ 200 million project.
But contrary to the reduction of promised cost by First Quantum to shareholders when acquiring control of Cobre Panama , news agency Reuters published last January that the company now estimates the project will cost $ 6 billion 400 million or $ 200 million more than projected by Inmet ( $ 6.200 million).
The company believes that production will begin in 2017 , a year behind schedule."
AI
