Panamá encara demandas por $11 mil millones por contratos mineros, de infraestructura y servicios | La Prensa Panamá

Panama Faces Billions in Lawsuits

Panama is facing multiple lawsuits totaling over $11 billion from various international investors. These lawsuits cover diverse sectors, including mining, infrastructure (Canal expansion), and services.

Key Lawsuits

• First Quantum: Two lawsuits totaling over $20 billion (temporarily suspended). These stem from the closure of the Donoso copper mine following a Supreme Court ruling.
• Corporación Franco-Nevada: A $5 billion lawsuit for lost revenue due to the Donoso mine closure.
• Webuild: A $2.643 billion claim for alleged overcosts in the Panama Canal expansion.
• Sacyr: A $2.362 billion claim for alleged overcosts in the Panama Canal expansion.
• Petaquilla Minerals: Over $500 million claimed due to the cancellation of their mining concession.
• Orla Mining: A minimum of $400 million is claimed due to non-renewal of gold mining concessions.
• Other Lawsuits: Additional lawsuits totaling millions of dollars involve various companies and disputes.

Many of these cases are handled through international arbitration bodies like the ICSID and the PCA. The article details the current status of each lawsuit and indicates the potential impacts on Panama's economy and its future investment landscape.