Minera Panama Will Only Pay 2% Royalty
Tuesday, May 17, 2011
The Canadian company Minera Panama, SA announced that it will only pay a 2% royalty on profits to the Panamanian State.
The official response from the company was given last week, after several months of discussion with the current government, including after bringing up in the reform of the Mineral Resources Code (last February) the possibility of upgrading the royalties from 2% to 4%.

The increase from 2% to 4% by way of royalty payments on profits would have represented about $80 million annually for the Panamanian government.
Source: Padigital.com.pa
Source: Padigital.com.pa
More on this topic
Guatemala: Royalties According to Type of Mine
January 2015
The miners of construction aggregates oppose the increase of 1% to 10% on mining royalties and propose that the tax should be proportional to the volume and type of material extracted.
The Mining Association of Guatemala (AMG) wants royalties to remain at 10% for gold and silver, while for limestone, sand, plaster and other building materials for them to be reduced to 3%, negotiable.
Marlin Gold Mine Generates $229 million in Six Months
September 2013
From these revenues the mine gave the State of Guatemala 4.25% in royalties.
The Marlin mine in San Marcos generated these revenues during the first half of 2013. "The cost of gold mining in San Marcos is $182 on average and is still the lowest of the 11 companies of which Goldcorp owns or has interests in in the continent," noted an article in Prensalibre.com .
Mining Royalties in Panama
March 2012
As gold becomes an important export item, royalties paid by mining companies remain low.
Gold exports rose by 63% between 2010 and 2011, reaching $85.1 million last year. Petaquilla Gold, owner of the Molejon mine, became the largest exporter in the country.
Guatemala: Gold, silver mines to pay royalties of 4%
January 2012
The agreement signed by 22 companies in the extractive industry will mean an increase in annual revenues from mining royalties of about $64 million.
Having previously paid 1% in royalties, gold and silver mining companies will pay the Guatemalan state a rate of 4%, said the President Otto Perez Molina.
Key entities
Minera Panamá Petaquilla Gold Ernest MastCarlos Salazar
Mining & Geology
Mining & Geology
Metal mining
Mining Law
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