In late 2023, Panama made a stunning and controversial move: it shut down its largest and most economically vital industrial project—the $10 billion Cobre Panamá copper mine. The fallout has been swift and brutal: over 40,000 jobs lost, hundreds of millions in annual tax revenue evaporated, and a storm of legal challenges that could cost the country billions.
All this—over 0.065% of Panama’s forested land. That’s right. The mine cleared just 3,000 hectares in a country with over 4.6 million hectares of lush rainforest. That’s the equivalent of nicking your lawn with a weed whacker and declaring the whole neighborhood a disaster zone.