Panamanian Ministry Of Commerce And Industry Has Rejected Requests For An Extension For Three Mining Concessions Comprising Orla Mining's Cerro Quema Project, Declared The Concessions Canceled And The Area Comprising The Concessions To Be A Reserve Area
Portfolio Pulse from Benzinga Newsdesk
The Panamanian Ministry of Commerce and Industry has denied extension requests for three mining concessions that make up Orla Mining's Cerro Quema Project. The concessions have been canceled, and the area is now designated as a reserve area.
December 18, 2023 | 11:08 am
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Orla Mining's Cerro Quema Project faces a significant setback as the Panamanian government cancels three key mining concessions and designates the area as a reserve.
The cancellation of the mining concessions directly impacts Orla Mining's operations and future revenue potential from the Cerro Quema Project. This regulatory decision is likely to be viewed negatively by investors, potentially leading to a decrease in the company's stock price in the short term.
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