Cobre Panama mine began producing and shipping copper concentrates in June 2019. Credit: Cobre Panama
First Quantum Minerals Ltd. is receiving some encouraging signs for its shuttered mine in Panama, though the nation’s president warned there’s a long way to go before reaching a deal to restart.
The Canadian company has begun preparations to ship out 120,000 metric tons of semi-processed copper stranded since the mine shut in late 2023, according to people with knowledge of the matter.
Franco-Nevada Corp., which has a supply agreement for metals from the mine, agreed to halt its arbitration case against Panama — another small step forward given dropping such action was a government prerequisite for negotiations. President Jose Raul Mulino said Thursday that the slate is now clean to start talks about a potential restart.
Mine workers and providers, as well as members of other unions and some…
