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Panama’s new mining code to allow participation of up to 35 percent in foreign governments’ share of projects

Wednesday, November 23, 2011

Foreign governments will be allowed to have up to a 35 percent share in mining concessions, under a new law that aims to replace provisions in the Mining Code that were overturned last March.

The percentage would apply to participation of foreign governments that could have a stake in private or public-sector joint ventures.

Under the clauses of the Mining Code that were overturned, foreign governments were not allowed to own, or participate in, mining ventures in Panama.

Original source (in Spanish): La Estrella