CONEP submits socioeconomic impact study on Cobre Panamá closure

The National Council of Private Enterprise (CONEP) has formally submitted a study titled ‘Socioeconomic repercussions of the closure of Cobre Panamá operations’ to an interministerial commission in Panama.

The research, conducted by CONEP’s Economic Analysis Unit, examines the impact of the mine's closure across seventeen categories, including economic growth, employment, local supplier chains, public finances, exports, and environmental monitoring. The study highlights the difficulty of replacing the mine's economic contribution with other sectors. It estimates that tourism would take 114.8 years and manufacturing 86.4 years to absorb the equivalent of a single year of the mine's production.

While sectors like commerce, construction, and transport could theoretically absorb the output faster, the report warns they are integral parts of the Cobre Panamá value chain and cannot act as independent substitutes. CONEP recommends the implementation of a permanent international environmental audit with equitable stakeholder participation, aligning with the public information commitments of the Escazú Agreement.