Panama - Mine-layer Hill Petaquilla will produce 120.000 golden ounces per year
16-05-2008 newspaperThe mining project Hill Petaquilla, which has developing in Panama with the contribution of Canadian capital, will produce 120.000 golden ounces per year, reported on the 15th the vice-president of the company, Mario Jaramillo. “We calculate that this plant will stop being constructed before end of year, and the culmination of the whole project will take about two year”, indicated Xinhua the executive, in the frame of the forum “Mining for the Success”, that culminated today in the capital.
Jaramillo moved forward that the initial investment in the construction of the aquiferous plant is 70 million dollars and, in the first stage, it will generate about 900 work places, which they will benefit to the nearby communities.
The project Hill Petaquilla is located in the population of Graceful, 80 kilometers to the North-East of the city of Panama, where the inhabitants of the area are divided before the development of the auriferous prospects.
“When we enter the phase of development of copper, at the end of 2010, the investments will climb up to 4.000 million dollars, what will bring a positive economic impact in the region where the mining project develops”, he said.
According to the executive, in the phase I sting, the developments of gold and of copper, will generate little more than 6 thousand employment squares and the company also works in generating a beneficial social and environmental impact for the nearby populations where they live about 50 thousand poor families.
The magnitude of this mining project, it reached the interest of the investors of the Stock Exchange of Values of Toronto, Canada, and of Madrid, Spain, where the actions of this mixed enterprise are already quoted.
During the forum, which assembled mining experts and international social representatives, also there presented before himself the chief of the indigenous people Tahitan of Canada, Jerry Asp, who made sure that his community is an example of that it is possible to develop friendly mining projects with the communities and the environment.
Despite the environmental and social implications of this project in Panama, the Panamanian indigenous groups did not come to this forum, where there was debated for two days the need to develop responsible mining projects with the society and with the environment.
The conference assembled representatives of Panama, Colombia, the United States, Ecuador and Canada, worried by the future of the mining and with emulation to adapt these projects to the social demands of the communities where deposits have been discovered.
16-05-2008
