Petaquilla could lose Molejon mine

Vancouver-based Petaquilla Minerals (TSX: PTQ; OTCBB: PTQMF), operator of the Molejon open pit gold mine in Panama, is facing scrutiny from Canadian and Panamanian regulators, leading to a possible cancellation of its mining concession.

The Panamanian newspaper La Prensa along with other media outlets have recently reported that Panama’s commerce and industry ministry will revoke Petaquilla’s concession for the Molejon mine in Colon province’s Donoso district, because it failed to pay salaries and benefits to roughly 600 employees last year.

Panama’s labor minister Luis Ernesto Carles claims Petaquilla owes 604 workers three months of pay and other entitlements totalling US$3.8 million, the local news agency ANPanama reports.

Read the complete article at NorthernMiner.com/news/petaquilla