MICLA

McGill Research Group Investigating
Canadian Mining in Latin America

Santa Rosa, Panama

Key Data

Company:Greenstone Mining to 2001; now Golden Phoenix Panama (a joint venture between Silver Global S.A. and Golden Pheonix Minerals) Operational status:abandoned Materials extracted:silver, gold Type of mine:open pit Main issues:labor/livelihoods, water

Description

Synopsis: In 1990, the Santa Rosa concession was granted to Mina Santa Rosa, a subsidiary of Canadian company Greenstone. The open-pit gold mine entered production in 1994, and attracted many people to the area in search of jobs.The Cañazas region underwent a subsequent boom. In 1999, however, plummeting gold prices rendered the project economically unviable and the mine was shut down, leaving a legacy of 3 large ponds where overburden was removed, a tailings pond and tailings area, and widespread unemployment. There is concern in Cañazas about water contamination from the mine’s tailings. Today, with gold prices on the rise, the mine is being re-activated.

Bibliography



Timeline of Key Events

2012
1999
1996
1990