Martes 07 de diciembre de 1990

La Estrella de Panamá

Richard Fifer Carles Announces – Reactivation of mining projects

The government of Mireya Moscoso, President of the Republic, intends to reduce the price of electricity in Panama through the reactivation of the Cerro Colorado and Petaquilla projects, confirmed yesterday, Richard Fifer Carles, governor of Coclé.

According to Richard Fifer Carles, amongst the government goals they have plans to create more affordable electricity compared to what is produced annually.

Richard Fifer pointed to the experience of the United States and Chile, as examples, both major copper producers, where the price of a kilowatt is between 5 and 6 centavos and  has been maintained due to the production of this mineral. He said that even after the electricity service in Panama has been privatized, prices are “inflated and incredibly they are thinking of raising them even more”

Richard Fifer Carles indicated that this is a project hat has a very important and fundamental basis for the recovery of mining in Panama, and there are multiple possible strategies to reduce the cost of electricity which would be an essential component once the prices of copper return to 1 dollar per pound. He noted that the international prices of copper increased from 65 to 83 cents per pound, which represents an alternative to the mining projects of Petaquilla y Cerro Colorado.

The previous administration decided to “freeze” the mining industry just as it was in its upturn. Richard Fifer Carles stated that because of the increase there is a new upturn in sight for this activity in the year 2000.  He also mentioned that the Petaquilla mining Project, in La Pintada, province of Coclé, would be the most important Project followed by Cerro Colorado located in Eastern Chiriquí.

Related posts:

1. La Pintada Pact strengthens says Richard Fifer-Carles
2. Richard Fifer Vision
3. Myths and truths of mining on TV