Honored with a knighthood of the Virgen of Guadalupe, Spain
Richard Fifer …
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Tag Archives: Petaquilla Minerals
Richard Fifer
The Importance of Mining
Mining is first and foremost a source of mineral commodities that all humans find essential for maintaining and improving our standards of living. Mined materials are essential for the construction of roads and hospitals, to build automobiles, make computers and provide the many other goods and services that consumers enjoy.
In addition, mining is economically important to countries and their development. It provides employment, dividends, and taxes that pay for hospitals, schools, and public facilities. The mining industry creates a trained workforce and small businesses that can service communities and may initiate related businesses.
Mining also generates foreign exchange and accounts for a significant portion of gross domestic product. Mining promotes a number of associated activities, such as manufacturing of mining equipment, provision of engineering and environmental services, and the development of world-class universities in the fields of geology, mining engineering, and metallurgy.
Richard Fifer said taht the economic opportunities and wealth generated by mining for many producing countries are substantial. It is our duty to understand and support the mining industry and its development.
Richard Fifer
Benefits to local Communities from Petaquilla Gold
Petaquilla Gold recognizes the importance of extending benefits of its mining operations to local communities. According to President of the Company, Richard Fifer, “Petaquilla´s investments are selective with focus on the needs of the underprivileged”. Sustainability is the key word according to Mr. Fifer, and Petaquilla’s operations and its benefits go beyond the life of an extractive industry project, ensuring a bright future for generations to come.
To date, Petaquilla Gold has contributed thousands of dollars to community development projects. Such programs have included
- Establishing strong, competitive services where support for construction and maintenance of the operations.
- Education development programs where schools have been built and equipped to running costs.
- The creation of micro-enterprises, providing alternate and safety employment opportunities for those living around the mine.
- Community health programs which include the establishment of community clinics and the refurbishment of health centers in Cocle.
- Company funded public roads and bridges which have made communication and road travel easier, benefiting everyone but mostly children who are now able to travel to and from school.
Richard Fifer says..
Fundamental to our plans of corporate social responsibility is a commitment to ensuring that our host communities have the means to remain viable during our operations and long after the mine has closed and in generations to come. Richard Fifer said that the first step towards reaching this goal is through the purchase of some of the operation’s requirements from local suppliers and to benefit locals in terms of employment opportunities and extensive training programs. We at Petaquilla are highly committed to continually improving the lives of communities hosting us or in nearby areas. Giving the essential tools for men and women to begin micro-businesses has recently turned from a dream into reality. The hard work on behalf of Petaquilla’s social responsibility workers proves how the company’s most significant stakeholders other than shareholders are the company’s employees and the communities in which it operates. It is rewarding to witness how Petaquilla has used its power to positively assist host communities and make a difference for future Panamanian generations.
Support to Mining Companies
Companies, especially in the mining sector, need help and the support of stakeholders to operate responsibly in problematic and poorly-governed countries. They need help preventing abuse and responding to them when they occur. Many companies such as Petaquilla Minerals agree and have signed on to voluntary measures that promote human rights. Corporate social responsibility is on top of the agenda and thanks to the guidance and support on behalf of the community and local church; it has been able to move forward and continues to show that consensus is possible on the first steps forward.
"Sustainable mining" is not an oxymoron. Mining companies like Petaquilla are acting in a more socially and environmentally responsible manner taking significant steps and carryout reforestation programs. Environmental mitigation and compensation activities are the main goals of the company’s aggressive reforestation project. 46 hectares have been worked on the site, 19 have been replanted and approximately 70 more are in plan to take place., according to Richard Fifer
Richard Fifer–Petaquilla
La Entrevista del Día: Arsenio Vargas, Comité Mina y Comunidad
P. ¿Usted que ha trabajado comprometido con su comunidad, cómo definiría el desarrollo de sus comunidades?
R. Soy miembro de un comité que apoya a los proyectos mineros, porque queremos dejar en claro que nosotros si vivimos en Coclesito las 24 horas, estamos seguros que en todo este tiempo hemos avanzado como comunidad, cuando hablamos de desarrollo es porque hemos mejorado en los últimos 5 años, ahora que vemos que hay avance, nosotros cuestionamos a aquellos que quieren impedir el desarrollo.
Por ejemplo, entre grandes obras de infraestructura, calles, puentes y caminos, se han hecho centros de salud, se hacen evacuaciones, la compañía minera tiene helicópteros y tiene la capacidad para sacar a la gente de urgencia a causa de las mordeduras de serpiente.
Yo dirigí un proyecto de Molejones a Calle Largo y sé de lo que estoy hablando, antes eran 8 horas para llegar a nuestro destino. La empresa ha construido una carretera que comunica muchos pueblos que antes era de difícil acceso, un camino de Molejones a Nazareno, comunica a Calle Largo, Nazareno, San Juan de Turbe y otras comunidades. Gobierno, empresa minera y comunidad, trabajaron duro por ese camino y hoy día está cortado. Nosotros no queremos trancar carreteras, como hacen el pequeño grupo que se opone, nosotros construimos carreteras para que los pueblos se desarrollen.
P. ¿Hemos recibido información precisa que estos grupos minúsculos trancan los ríos, es eso cierto?
R. Es cierto. Ellos pretenden ponernos a pelear entre nosotros mismos compañeros, gente de nuestras comunidades cuando todos sufrimos las mismas carencias, pero no ofrecen nunca ninguna solución a nuestros problemas, antes bien los agravan. Mire hasta donde hemos llegado que esos grupos minúsculos trancan los ríos a aquellas personas que vienen bajando en canoas o fueras de borda por el rio que es como una carretera para el pobre. ¿A quién perjudican? A nuestra propia gente. Nadie tranca por 8 días la Transístmica, pero estos grupos minúsculos que se oponen al desarrollo y al progreso, han trancado el río por más de 12 días sin que autoridad alguna se haya apersonado a resolver este problema una vez por todas.
P. ¿En ese caso, cuál sería su petición a las autoridades?
R. Soy de la opinión que la aplicación de la ley debe ser firme y las autoridades deben actuar pronto, porque ese grupito está provocando una confrontación con nuestra gente. Hay que evitar eso, nosotros somos gente pacífica, pero no vamos a permitir que jueguen con nuestro desarrollo, con el futuro de nuestros hijos.
Investing in gold mining shares
The Richard Fifer – Gold Mining stocks are a popular way of investing in gold – albeit indirectly.
The perceived advantage of investing in gold mining shares is that their value is usually more sensitive to the price of gold than even a gold bar. This is because gold mining shares are valued on the basis of their anticipated profits through the life of the mine, and these depend on the reserves, and on the relationship between gold mining production costs and the anticipated value of the gold extracted.
Suppose a gold mine has 1,000,000 ounces underground and the above ground value is $1,000 per ounce. If the production cost is $800 per ounce the mine will make $200,000,000 over its life. But if the gold price rises by 20% to $1,200 the mine will make $400,000,000 overall. This demonstrates a ‘gearing’ effect of 4 times – i.e. for a rise in bullion of 20% the share will rise by the 20% plus another 4 times 20%, i.e. 100% (all other things being equal, which they rarely are).
Celebrating 488 years of establishment – Nata de los Caballeros
In commemoration of the foundation of the city of Nata de los Caballeros, one of the primary cities of the Pacific, the Mayor of the Nata de los Caballeros district gives homage of “Guest of Honor” to Richard Fifer, father of modern mining in Panama through Petaquilla. In this photograph you can see Doctor Leonel Arosemana, assigned by Richard Fifer who has been recognized for his important and constant support to the development of the region, not only in mining, but also through the La Castilla de Oro project which has started to change the image and tourist projections of the central provinces. Dr. Arosemana, key player in the social and community activities of the Petaquilla Foundation, receives from Magistrate Mereci Morales, Honorable Mayor of Nata de los Caballeros on behalf of Richard Fifer.
Korean president interested in the panamanian mining industry
The Richard Fifer, During his visit, President Bak, was part of the Summit of Heads of State and Government of member countries SICA and the Republic of Korea
One of the main issues addressed in the Korean president’s agenda, Lee Myung-Bak on his visit to Panama at the end of June, was the exploitation of mineral resources. The Vice President of the Republic of Panama and Chancellor, Juan Carlos Varela said that 
Korean companies have shown interest in investing in several major mining projects in several provinces; also participating in projects for generation of energy.
Among other issues, the Korean President has an interest in encouraging trade, security and technology cooperation at the government level by negotiaty a treaty on double taxation and other free trade agreements.
Myung-bak met with the President of the Republic, Ricardo Martinelli in this meeting they shared their interests in strengthening the ties that bind both nations, which range from political, through the commercial and international cooperation between the two countries.
During his visit, President Bak, was part of the Summit of Heads of State and Government of member countries System Integration Central American (SICA) and the Republic of Korea, held June 28 to June 30, 2010. On Tuesday June 29 the second forum on economic cooperation between Korea and SICA, took place in the Marina Hotel Miramar Intercontinental.
Increase in the area of mining Provide job opportunities
The Richard Fifer – Burgos explained that the Director of Mineral Resources has granted concessions, both extraction and exploration, for about 6% of the country.
For Vielka Montenegro Effio
A significant increase in the mining sector in relation to previous years is reflected in the statistics provided by the Comptroller General of the Republic. This will lead to better job opportunities, said the Director General Mineral Resources Ministry of Trade and Industry, Alfredo Burgos. Burgos noted that the 104 percent increase in this sectoris due to the amount of concession request which involve a 4 million dollar investment in the country, followed by the rubric of mines and quarries an increase of 65 percent noted that it is the second year of growth. Last year, mining had an increase of 67 percent.
Burgos explained that the Director of Mineral Resources has granted concessions, both extraction and exploration, for about 6% of the country.
He adds that this year there were a total of 46 mining concessions for metal mining such as gold, silver, copper and manganese, and 83 for non-metallic sand, clay, limestone and quarry stone production. These concessions have generated approximately 2000 jobs in the sector. On the other hand, Burgos stressed that the mine in Remance Veraguas began in 1991, 2.2 million dollars from gold and silver, which caused an increase of 100 percent, compared to the previous year when production started. . .
Finally, Burgos noted that the increase in mining benefits many Panamanians, generating sources of employment and contributes to development of rural areas, with the construction of roads and the advent of electricity to these remote regions.
