Panama’s Congress Opens Mines to State-Owned Firms
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Panamanian lawmakers voted to allow foreign governments to invest in mines, a move intended to spur development of the country’s gold and copper deposits.
Congress approved the new mining bill in a final debate today, which also sets higher fees and royalties for mine companies, according to the vote announced on Panamanian television. President Ricardo Martinelli, who urged lawmakers to approve the new code, must sign the bill before it becomes law.