1. October 2011 – Residents of Chicheme viewing their house design for the resettlement community of Nuevo Chicheme for the first time.
Cobre Panama
At Cobre Panama, Inmet’s development project in northern Panama, our goal – our
responsibility – is to ensure that the benefits of our operation are shared with the
people of Panama. We are committed to leveraging the positive and helping reduce
adverse impacts of our operation. We expect our project to help improve the economic
conditions of nearby residents and lead to sustainable socioeconomic improvements
throughout Panama. As well, through a rigorous focus on environmental management
and landscape-scale conservation, we are confident that the rich biodiversity of the area
surrounding our operation will be protected.
Environmental and Social Impact Assessment Biodiversity
To better understand our impact and to meet Panamanian legal Cobre Panama is committed to helping protect the rich biodiversity
requirements and international best practice standards, Inmet of the Mesoamerican Biological Corridor, currently under threat as
commissioned an Environmental and Social Impact Assessment a result of in-migration related to a lack of economic opportunity.
(ESIA) of the Cobre Panama project. It is one of the most thorough As part of our environmental and biodiversity action plans, we will
socio-environmental studies ever undertaken of the region. In compensate for the loss of forest by developing and implementing
December 2011, the Autoridad Nacional del Ambiente, the an off-site ecological restoration program that will reforest two
Panamanian environmental authority, approved our ESIA. As hectares for every hectare of original forest lost. We will also
well as detailing the impact of our project, the ESIA establishes support the management of two existing national parks and a
a foundation on which we are building a robust and leading new protected area encompassing more than 290,000 hectares
corporate responsibility management program. of primary forest. Additionally, we have introduced an innovative
species conservation plan whereby we commit to no loss of critical
habitat essential for the survival of a species.
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2. Revegetation efforts at Cobre Panama.
“By conducting our affairs transparently and with integrity, treating our
employees fairly, ensuring that we share wealth with our communities and
protecting biodiversity, we best serve our many stakeholders and society. We
strive to do what’s right.”
Jochen Tilk, Chief Executive Officer
Socioeconomic Development Resettlement
Since 2008, we have been working intensively with numerous When it became clear that the development of Cobre Panama
communities as well as local and national governments in would involve the displacement of a number of people, including
Panama and third-party organizations to develop our Social indigenous people, we established a resettlement process that
Development Action Plan. The plan outlines our immediate and adhered to the highest international standards of fairness and
future commitments to protect the quality of life and improve transparency. As part of that, we collaborated intensely with
the social well-being of our stakeholders. A main focus is to those affected. Some 500 people from six areas will undergo
improve local conditions by supporting community development in resettlement. Four of the areas are made up of farmers
several areas including education and training, agriculture, health and two are indigenous settlements primarily inhabited by
and wellness and civic safety. It also calls for the creation of a Ngöbe-Buglé people who moved into the area in recent years.
community development foundation that will invest in development In partnership with these groups, we have developed a multi-
opportunities in consultation with project-area communities. year and multifaceted resettlement action plan that is meant
Our goal is to promote sustainable economic and community to improve the lives of those involved. The plan sets out our
development over the mine’s estimated 30-year life and beyond. commitments, principles, procedures and provisions for monitoring
and evaluation, framework for participation and mechanisms
We are also working to help create strong communities by
for addressing grievances. All of these groups have now become
providing local employment. Cobre Panama has targeted to
signatories to the plan.
hiring 75% of our workforce from Panama and is committed
to paying fairly.
For more information, contact:
Craig Ford, Ph.D. – Vice President, Corporate Responsibility T. 1.416.860.3960 E. craig.ford@inmetmining.com
www.inmetmining.com