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Back in the early 1990's several groups, mostly Canadians, obtained concessions to exploit mineral deposits in the Republic of Panama. None of them were put into operation in a significant manner because of the economics - due to the price of gold, silver, copper, and other minerals it simply did not make sense to invest in the infrastructure required to extract the minerals held under Panama's soil. Then 9/11 happened. In March of 2001 the price of gold was under $300 per ounce, and in the past six years gold has risen to over $650 per ounce. And while that's good, it's not nearly as attractive as the copper deposits, which could turn out to be the largest on the planet. Copper was at under $.50 cents per pound in early 2001, and now it's well over $3.00 per pound due to increasing demand from the exploding economies of China and India. All of that means that in about 2004 investment in Panamanian mining suddenly became a smart business decision. The money started pouring in and has not stopped. The numbers are in the billions. In this section of Panama-Guide.com you will find articles related to gold and the mining industry. If you require additional information about this or any other category of information regarding the Republic of Panama please take advantage of our powerful in-house search engine. And if you still can't find what you're looking for we even take requests! Welcome aboard, and please remember to tell your friends about Panama-Guide.com, the #1 English Language Website about the Republic of Panama. Salud.
Thursday, May 01 2008 @ 05:46 PM EST
Contributed by: Don Winner
Views: 201
By Andy Hoffman, Mining Reporter Report on Business.com - For Inmet Mining Corp., this is turning into one ugly week. On Tuesday, the company delivered a disappointing first-quarter financial report and said that a court ruling will force it to temporarily shut a copper project in Turkey, delaying the mine's startup date past 2009. And yesterday, Inmet's growth plans suffered another double body blow as Spain's water authority raised concerns about the Las Cruces mine, while, at the same time, a three-way partnership to build a massive copper project in Panama erupted into a bitter legal dispute. "We are a little perplexed," Inmet chairman and chief executive officer Richard Ross said on a conference call, referring to junior partner Petaquilla Copper Ltd.'s claim that Teck Cominco Ltd.'s interest in the Panama project has been terminated. (more)
Wednesday, April 30 2008 @ 08:05 AM EST
Contributed by: Don Winner
Views: 231
The Canadian Press VANCOUVER — Petaquilla Copper Ltd. said Tuesday that Teck Cominco Ltd. has failed to satisfy the conditions of its deal for a stake in the Petaquilla copper property in Panama, a claim denied by the company. Petaquilla said it believes Teck Cominco failed to satisfy the conditions for making a final commitment to the project. “The sole document supporting Teck Cominco's final commitment is a draft interim FEED study delivered on January 31, 2008,” the company said. Teck Cominco spokesman Doug Horswill said he believed Teck Cominco had done nothing wrong. “We don't believe that the allegations by Petaquilla Copper Ltd. have any merit and that we have acted appropriately and in accordance with the agreements,” Mr. Horswill said. (more)
Wednesday, April 16 2008 @ 12:25 PM EST
Contributed by: Don Winner
Views: 241
Business News Americas - Global mining and resource extraction projects are facing a whole new set of social challenges. Divergent viewpoints on the benefits of development and the impact of projects on communities and the local environment are part of the complex operating environment. Weak governments, the lack of local capacity, the spread of misinformation, and the absence of an internal skill-set to deal with them are factors that must be addressed. Effective engagement between companies, government, communities and other interest in order to align the project with local development priorities will often make the difference between project success and failure.
Tuesday, April 15 2008 @ 11:50 AM EST
Contributed by: Don Winner
Views: 346
By DON WINNER for Panama-Guide.com - I've been watching the Petaquilla mining company closely for years now. They are trying to open up gold and copper mines in Panama, and recently their stock has been taking a (relative) beating. This has been a trader's stock for quite some time now because of the volatility and low volume. So, take a look at the American Bulls page for PTQMF - they have issued a "Buy If" recommendation for this stock if the buying pattern continues. Now, either you are a stock trader or you're an investor. Traders buy and sell every day. Investors can buy and forget about it. I bought PTQMF at .80 cents a share and I'm not a trader so I'm not worried about fluctuations. But if you want to trade this stock, check out the American Bulls site for indicators. And finally, if you're taking investment advice from me you need your head examined.
Copyright 2008 by Don Winner for Panama-Guide.com. Go ahead and use whatever you like as long as you credit the source. Salud.
Saturday, March 29 2008 @ 08:37 PM EST
Contributed by: Don Winner
Views: 272
By Andy Hoffman for Report on Business.com - Showing its hand as eager to proceed with the massive but increasingly expensive $3.5-billion (U.S.) Petaquilla copper and gold project in Panama, Inmet Mining Corp. will take on more upfront financing for the potential mine in exchange for the right to operate the project. In a deal that some analysts say could delay the mine's startup until 2015, Inmet agreed to take on all the funding for the project up to $50-million until September, 2009. At that time, Teck Cominco Ltd., which had been bankrolling the operation, will decide whether it will take a 26-per-cent interest in Petaquilla, which has been called one of the largest undeveloped copper projects in the world. (more)
Monday, March 10 2008 @ 08:19 AM EST
Contributed by: Don Winner
Views: 378
NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2008) - Cabo Drilling Corp.'s Panama division has entered into a contract with Minera Petaquilla, S.A. to drill a minimum of 6,000 meters on their copper project in the District of Donoso in Colon Province in the Republic of Panama. Minera Petaquilla, S.A. is a Panamanian company that holds the Petaquilla copper concession. Petaquilla Copper Ltd. currently holds a 52% equity interest in Minera Petaquilla, S.A. and Inmet Mining Corps holds the remaining 48% equity interest. Teck Cominco has an option to earn 50% of Petaquilla Copper's interest in Minera Petaquilla, providing Teck Cominco funds all of Petaquilla's share of the cost of bringing the project to production. (more)
Thursday, February 14 2008 @ 05:33 PM EST
Contributed by: Don Winner
Views: 317
By Liezel Hill for Miningweekly.co.za - Vancouver-based Petaquilla Copper (PTC) is developing a new mine plan for its jointly-owned Petaquilla copper project, in Panama, after initial results from a front-end engineering and design (Feed) study into the project cast doubt on whether construction would begin by the January 1, 2009, deadline agreed to with the country's government. PTC holds 52% of Minera Petaquilla SA, which owns the project, and fellow Canadian Inmet Mining owns the balance. A third Canada-based miner, Teck Cominco, has the right to buy half of PTC's interest by committing, before March 31, to participate in work plans and budgets leading to commercial production, and by committing to fund 52% of the development costs for the project. (more)
Monday, February 11 2008 @ 10:36 AM EST
Contributed by: Don Winner
Views: 209
LONDON (Thomson Financial) - Petaquilla Copper Ltd said it remains optimistic that the final front end engineering and design study (FEED) study will show that the Petaquilla copper project in Panama remains viable, and said it sees an opportunity to provide power and port facilities to the project, which would substantially reduce capital costs. The company had said on Feb 8 that a report estimated the capital cost to develop the project at 3.5 bln usd. The company said Petaquilla Infrastructure Ltd, a company created for power, port and related infrastructure development for the Molejon gold mine of Petaquilla Minerals Ltd, will also be able to make these facilities available for the Petaquilla project. The company said Petaquilla Infrastructure is in advanced talks with a global power producer for the construction of a 360 MW thermal power plant on the Caribbean coast 16 kilometres north of the project. It added that the proposed power plant will have a larger capacity than that required for the Molejon gold mine and the Petaquilla copper project. The company said the power plant will be run as a separate cash flow business by Petaquilla Infrastructure, which will sell to a greater market over and above providing "over the fence" power to the Petaquilla project. TFN.newsdesk@thomson.com ans/rfw
Friday, February 08 2008 @ 08:46 PM EST
Contributed by: Don Winner
Views: 235
By Jonathan Spicer TORONTO (Reuters) - Development cost estimates at the Petaquilla copper project in Panama have more than doubled in the past year to $3.5 billion, its stakeholders said on Friday, putting the future of the project in jeopardy. In a statement, stakeholders Inmet Mining , Petaquilla Copper , and Teck Cominco Ltd said they believe the project "still has potential," while Inmet Chief Executive Jochen Tilk acknowledged the three companies had debated about whether to go ahead with the project. "When you look at the capital costs and operating costs, it's not a slam dunk," he said in an interview. "But, going forward, we think this is a very consistent pattern in the industry. It's very hard to believe there is another project of the quality of Petaquilla that could be developed at any lower development cost." (more)
Friday, February 08 2008 @ 08:41 PM EST
Contributed by: Don Winner
Views: 169
By ANDY HOFFMAN From Saturday's Globe and Mail - Still reeling from its decision to shelve the Galore Creek project in British Columbia after construction costs more than doubled, Teck Cominco Ltd. is now facing massive inflation at another planned copper mine in Panama where costs have also doubled, throwing the viability of the entire project in doubt. Teck of Vancouver and its partners Inmet Mining Corp. of Toronto and Vancouver-based Petaquilla Copper Ltd. said an interim engineering report estimates capital costs to build the Petaquilla copper project have surged to $3.5-billion (U.S.) from an original estimate of $1.7-billion published last year. (more)
Tuesday, February 05 2008 @ 08:46 PM EST
Contributed by: Don Winner
Views: 263
Money.CNN.com - Petaquilla Copper Ltd. and Petaquilla Minerals Ltd. today announced the incorporation of Petaquilla Infrastructure Ltd. The Company will be owned 51% by PTQ and 49% by PTC. PQI's mandate is to manage and expedite the development of the power, port and related infrastructure facilities in support of PTQ's Molejon Gold Mine now nearing production in the Republic of Panama. PQI will also be in a position to make these facilities available in connection with the Petaquilla Copper Project currently in the final stages of pre-production studies by Teck Cominco Ltd., Inmet Mining Corporation and PTC. The formation of PQI is an important advancement in the development of these two projects and also creates another opportunity for the economically sustainable development of this region of Panama. About Petaquilla Minerals - Petaquilla Minerals Ltd. is an emerging gold producer scheduled to bring its 100%-owned Molejon Gold Project into production in fiscal year 2008. Its shares are listed on the Toronto Stock Exchange under the symbol PTQ. Anticipated throughput for the Molejon Gold project during the first year of production will be 2200 tonnes per day. The plant will utilize three ball mills and a carbon-in-pulp processing facility. On behalf of the Board of Directors of PETAQUILLA MINERALS LTD. Richard Fifer, President and Chief Executive Officer
Tuesday, January 08 2008 @ 09:52 PM EST
Contributed by: Don Winner
Views: 400
PANAMA CITY, Jan. 8, 2008 (Canada NewsWire via COMTEX) -- Bellhaven Copper & Gold, Inc. (TSX-Venture: BHV) ("Bellhaven" or the "Company") in conjunction with its joint venture partner Dominion Minerals Corp. (OTC: EMPL) [formerly known as Empire Minerals Corp.] is pleased to report copper, gold and silver assay results from Holes CH-07-06 and CH-07-07 of its recently completed, 11 Hole diamond drill program at the Cerro Chorcha porphyry copper project in the western highlands of Panama. Hole CH-07-06 was drilled to test the eastward continuation and Hole CH- 07-07 was drilled to test the northward continuation of both copper mineralization and the structurally-controlled quartz-magnetite-sulphide stockwork zones that have been observed on-surface and in previously reported Holes. These stockwork vein zones typically host higher grade copper-gold- silver mineralization than what is observed within the much larger mineralized Chorcha porphyry system. (more)
Saturday, November 17 2007 @ 08:43 AM EST
Contributed by: Don Winner
Views: 421
By Rafael Berrocal for La Prensa -
The Deputy Director of Panama's National Security Council, Marcel Salamín, resigned his post last Thursday, two days after having been named as a member of the Board of Directors of Petaquilla Copper Ltd., the company that has a mining concession on 13,000 hectares of land in Donoso, Colón. In a press release from the Vancouver stock market, Petaquilla Copper Ltd. confirmed Salamin will collaborate in the elaboration of the mining plan, and clarifies that in October of 2006 the company entered into a plan of adjustment with Petaquilla Minerals, transferring 52% of the shares in the copper mining project to Petaquilla Copper Ltd.
Tuesday, November 13 2007 @ 04:23 PM EST
Contributed by: Don Winner
Views: 692
By DON WINNER for Panama-Guide.com - Petaquilla is going to announce the production of their first ounce of gold in either late December or early January 2008. When that happens you can expect a nice spike in the stock price, the last of three surges that happen to a gold or mineral stock for a company that's bringing a mine on-line. They already had two earlier boosts, the first when they announced the intent to put the mine into production, and another when they started building their base camp. (more)
Monday, November 12 2007 @ 12:30 PM EST
Contributed by: Don Winner
Views: 582
By Yelena Rodriguez for the Panama America - Although the company has not yet initiated the extraction of minerals in Petaquilla and Molejón in the Colón province, those who live in affected communities and conservationists are asking governmental authorities to stop this project. Apparently nothing can stop them because from the start of this ambitious project the company has been protected with a "Contract Law of the Republic" that the Petaquilla Minerals company signed with the Panamanian government in 1997. Paradoxicalally, that same year, while the right was granted to the company "to extract, operate, benefit, process, refine, transport, sell, and commercialize gold, copper, and other minerals" the Chiefs of State of Central America created, in June, in a meeting made in Panama, the Meso American Biologocial Corridor (CBM). (more)
By Andy Hoffman, Mining Reporter Report on Business.com - For Inmet Mining Corp., this is turning into one ugly week. On Tuesday, the company delivered a disappointing first-quarter financial report and said that a court ruling will force it to temporarily shut a copper project in Turkey, delaying the mine's startup date past 2009. And yesterday, Inmet's growth plans suffered another double body blow as Spain's water authority raised concerns about the Las Cruces mine, while, at the same time, a three-way partnership to build a massive copper project in Panama erupted into a bitter legal dispute. "We are a little perplexed," Inmet chairman and chief executive officer Richard Ross said on a conference call, referring to junior partner Petaquilla Copper Ltd.'s claim that Teck Cominco Ltd.'s interest in the Panama project has been terminated. (more)
By Yelena Rodriguez for the 
