Analysis finds Cobre Panamá copper mine could cause massive net losses for Panama
What happened
Conservation Strategy Fund conducted a cost-benefit analysis of the Cobre Panamá copper mine in Donoso, Panama, covering the period 2013–2074. The analysis concludes that the project could generate a net loss of USD 23.11 billion for Panama. If the mine’s tailings dam were to fail, the project’s net losses could reach USD 95.27 billion.
Why it matters
The findings indicate that the projected costs of the mine, which would fall on Panamanian citizens and total USD 86.84 billion, are substantially greater than the economic benefits generated. These results raise questions for the government regarding whether to allow mining operations to continue.
Who's involved
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Coclé ProvinceSpeculative
Coclé Province could incur substantial costs related to environmental remediation and tailings dam failure
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- President Mulino faces pressure over mine project's negative economic balancePresident Mulino faces pressure over mine project's negative economic balanceLikely
- How could the economic and environmental risks in Panama affect Latin America?Panama's mine risks could undermine regional investment confidencePossible
- How could the Cobre Panamá copper mine's risks affect Coclé Province?Coclé Province may face massive environmental and financial costs from copper minePossible