Arbitration proceedings between royalty and streaming company Franco-Nevada (TSX, NYSE: FNV) and Panama over the reopening of the $10 billion Cobre Panama copper mine are moving forward after a tribunal formed in December said it will hear the case in October 2026.
Canada’s Franco-Nevada had a gold-copper steaming agreement with First Quantum (TSX: FM), the mine’s owner and operator. The mine’s closure in 2023 forced Franco-Nevada to take a $1 billion impairment charge.
“We are encouraged that President Mulino has indicated a willingness to discuss Cobre Panama this year and that sentiment in Panama now appears more supportive of restarting the mine,” chief executive Paul Brink said on Monday, delivering the company’s 2024 full-year results.
Investor optimism pushed Franco-Nevada’s stock to a new 52-week high of C$212 per share. By mid-afternoon in Toronto, the stock was up 2.1%,…
