The Molejon containment pool, where cyanide-laced water and sludge are treated, has reached its tipping point and has paralyzed mine production since Wednesday. For the gold mine, operated by Petaquilla Minerals in the Province of Colon, an overflow could mean poisoning the surrounding wooded areas, rivers and communities. The company agreed yesterday that the pool...
The legislature approved over $2 billion for the Panama Canal Authority October 2010 to September 2011 budget. As far as returns, budget-makers expect over $1.6 billion in tolls from 14,286 ships, an average of 34.9 transits a day if the math is correct. Of that $1.6 billion, the national treasury would bank $839 million...
The sale of Thunderbird Resorts Inc.’s 63.63% stakes in six Panama casinos to Spanish gaming company CODERE is now complete. The shares sold for about $38 million, a recorded gain on the sale of stock of approximately $14.5 million and an additional gain of $4.2 million ratably over the next two years, according to...
Taboga Island residents are thinking about taking their objection to the installation of fuel storage tanks on neighboring Melones and Taboguilla islands to the Supreme Court. Municipal Council Resolution 3 of June 28 2007 establishes that Taboganos will reject any permission granted for the establishment of fuel storage infrastructure on district’s islands. They fear...
Police cordoned off a road near Marcos A . Gelabert airport in Albrook after a shooting Thursday afternoon. Several cars were involved in the incident that left a white sedan overturned on the side of the road, according to preliminary reports. Jaime Buitrago, the sedan’s driver, was shot three times and taken to the...
