Despite having agreed to meet with the government, the company decided on Friday to “advance efforts” by going ahead with two arbitration processes, the ministry said in a statement, without giving further details.
An official from the country’s economy and finance ministry told Reuters on Friday that Panama was looking for a “fair” deal in which the company complies with the obligations its large operations demand.
First Quantum did not immediately respond to a request for comment.
The company initiated one of the arbitration processes under a 1997 contract, which regulates its operations, and the other under the free trade agreement between Canada and Panama, the government added.
The government has been and is going to keep working with law firms Squire Patton Boggs and Allen & Overy to solve the disputes, a spokesperson for Panama’s commerce and industry ministry said. Both firms did not immediately respond to a…
