Mining Company States They Own 1.5% Of The Entire Territory

Monday, May 06 2013 @ 10:04 AM EDT

Contributed by: Anonymous

About 51 thousand square kilometers are being used for the mining extraction, which is around 21 times the size of San Miguelito or the equivalent to 1.5% of the country, including part of the provinces of Colon and Cocle is allegedly owned by Petaquilla Minerals LTD, chaired by the Panamanian citizen Richard Fifer.

The information used to promote the company to its shareholders and future investors, is published through documents and maps before the Securities and Exchange Commission (SEC) of the United States, entity in charge of regulating valuables in that country.

However, in Panama, the Ministry of Commerce (MICI) reports that Petaquilla has only one concession, under the Contract-Law 9 of 1997, which represents just a fraction of what it claims to have: 136 square kilometers shared with Minera Panama.

The mining companies refuse to explain how much has been given to them by the state for their activity or whether or not they have permission for scanning the areas.(La Prensa)

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