Martinelli about-turns on Panama mining reform
Panamanian President Ricardo Martinelli asked lawmakers to repeal a recent law that allows foreign government investment in mines.
The law, passed less than a month ago, is crucial to Canada's Inmet Mining , as the company plans to partner with state-owned firms such as Korea Resources Corp in a bid to finance and build the $4.3 billion Cobre Panama copper-gold project.
Martinelli, who originally championed the new law, made the surprise announcement about the repeal at a meeting with an indigenous community in Western Panama.
Original source: Reuters