The mining business in Panama, in the eyes of foreign investors, is a smart decision. The reasons behind this are clear. Back in the 1990’s when mostly Canadians obtained concessions for the exploitation of Panama’s mineral deposits, the economic situation was not at its best. The price for gold, copper and silver was low which made it difficult to build the infrastructure necessary to make the mines work. Then 9/11, the event that marked a new start for the mining industry in Panama happened. In March 2001 the price of gold was under $300 per ounce. In the following six years it skyrocketed to over $650 per ounce. Today gold is at $1,447.50/oz.
Gold was not the only mineral whose price rose right after this economy changing event took place. Copper, due to the increasing demand from nations such as China and India has also become attractive for investors. All of this means that approximately three years after 9/11, mining in Panama became a good decision. Money started coming in and is still going on today. The Petaquilla Minerals project located approximately two hours from Panama City is one of the largest gold and copper mines in the world. President and CEO of Petaquilla Minerals, Richard Fifer encourages investors interested in visiting the operations to come to Panama and find out more about the potential opportunities in mining Panama has to offer.
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