© Reuters.
By Elida Moreno
PANAMA CITY (Reuters) -Panama’s Commerce Minister Federico Alfaro introduced his resignation on Thursday days after the nation’s prime court docket dominated a contract between the federal government and Canadian miner First Quantum (TO:) was unconstitutional.
The Central American nation’s commerce ministry led negotiations on a contract between the federal government and First Quantum to function a key mine, which opponents have deemed as too beneficiant to the miner.
In a resignation letter addressed to the president and shared on social media, Alfaro talked about the contract, which generated months of protest all through Panama, in addition to the court docket ruling.
The court docket’s ruling “could have serious consequences for the country such as the loss of jobs and economic instability, international claims from investors, the impact on the level of investment already announced by the rating agencies,” Alfaro wrote.
President Laurentino Cortizo named Jorge Rivera as Alfaro’s substitute, in line with an announcement from the president’s workplace.
Cortizo introduced on Tuesday he’ll comply with by way of with First Quantum’s mine shutdown as soon as the court docket’s ruling is printed within the nation’s official gazette, which has not but occurred.
Incoming commerce minister Rivera mentioned in a separate public assertion the ministry is evaluating actions to adjust to the court docket’s ruling and can begin coordination talks with labor and environmental authorities.
