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Copper deposit again eyed for development

la prensa
Cerro Colorado has again been targeted for its large coppoer deposit.
 
Cerro Colorado, located in the Comarca Ngäbe Buglé, has again generated interest from mining companies, but any such action is expected to be heavily opposed by indigenous groups and environmentalists.

The government yesterday announced plans to develop the site, saying that the mine could generate economic growth in one of the poorest parts of Panama.

This is the third time that a proposal has been floated for mining in the region, which contains one of the largest known deposits of copper in the world that has not yet been developed.

Plans for mining in the area first surfaced in 1932 when a geologist for Sinclair Oil Company found the copper deposit, but the extent of the find was only determined after surveys in the 1950s.

The most recent attempt to open a mine happened in 1997 when a contract was signed with Canadian company Panacobre, but that effort met with intense opposition.

Few details have been released about the latest effort to develop the area.





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