Panama's president has signed into law an indefinite moratorium on new mining concessions. President Laurentino Cortizo signed the law Friday, which also prohibits renewing existing concessions. Panama’s National Assembly approved the bill Thursday. An article was removed, however, that would have revoked a controversial mining contract that had sparked nationwide protests over the past two weeks. The new law will still allow Minera Panama to operate an open-pit copper mine in the state of Colon for 20 years, with a possible extension for another 20 years. Environmentalists argue the mine threatens to destroy more of the dense jungle surrounding it and imperils local drinking water.
