Natural resources, energy and environment
Copper, gold, tropical woods and good fishing
waters are some of Panama's most important natural
resources. Despite good mineral resources, mining has
been limited, but mineral extraction is about to become
an important element of the economy. However, strong
resistance from the environmental movement and
indigenous peoples put some sticks in the wheel.
Panama has two of the largest untouched copper
reserves in the world and in both places there are also
large gold resources. Gold began to be mined by a
Canadian mining company in Petaquilla in 2010 and almost
immediately became one of the country's largest export
goods. Copper extraction in the same area is under
development. The mining project, Cobre Panamá, is
expected to be the largest in Central America and,
according to some estimates, in the long run contribute
as much to the gross domestic product (GDP) as the
Panama Canal.
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COUNTRYAAH:
Major exports by Panama with a full list of the top products exported by the country. Includes trade value in U.S. dollars and the percentage for each product category.
Strong resistance from the environmental movement and
indigenous peoples has, in part, put spikes in the wheel
of the investment plans. In 2011, President Martinelli
passed legislation that would have increased
opportunities for foreign investment in the mining
industry, but the protests became so violent that the
law was withdrawn. In early 2012, instead, laws were
passed that severely limited the possibility of
extracting minerals in the comarcan Ngöbe-Buglé, which
constitutes close to a tenth of the country's surface
(see Political system).
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Abbreviationfinder: A popular acronym site in the world covering abbreviation for each country. For example, PM stands for Panama.
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Panama.
Panama's main sources of energy are imported
oil-based fuel and domestic hydropower, while wood,
charcoal and sugar cane waste contribute with smaller
proportions. In recent years, major investments have
been made in hydropower to reduce dependence on imported
oil. Hydropower accounts for over half of electricity
production. Oil reserves found in 2011 are expected to
generate revenue in the future.
The most serious environmental problem is the
deforestation. Together with pollution, it poses a major
threat to the country's environment and the rich animal
and plant life. Through its unique location, Panama
provides a land bridge for species on two continents;
here, for example, twice as many species of migratory
birds pass through the whole of Europe. In an effort to
protect the environment, increasingly large areas have
been set aside as national parks or nature reserves.
Today, they cover about a quarter of the country's area.
In early 2015, a law on nature conservation was adopted
for an 85,000-acre area in the bay outside Panama City,
wetlands that are considered to be of crucial importance
for migratory birds. During Martinelli's government
(2009–2014), construction projects were planned in the
sensitive area. The new law stops construction, but also
forest logging, land use and other things that can
affect the mangrove swamp.
FACTS - ENERGY AND ENVIRONMENT
Energy use per person
1,089 kilograms of oil equivalent (2014)
Electricity consumption per person
2082 kWh, kWh (2014)
Carbon dioxide emissions in total
8 801 thousand tonnes (2014)
Carbon dioxide emissions per inhabitant
2.3 tons (2014)
The share of energy from renewable sources
21.2 percent (2015)
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