Pre-Columbian Tumbaga figurine made of a gold-copper alloy unearthed during archeological rescue work around Cobre Panama. Image: First Quantum Minerals
With so much happening in copper – from all-time highs mixed with price collapses – it’s easy to lose sight of the giant hole that exists in the industry where dynamite meets bedrock.
Cobre Panama has now been sitting idle for 18 months, ordered to shut down by a supreme court ruling following months of protests that rocked the Central American nation.
The massive First Quantum Minerals mine, which entered production in 2019 is an increasingly rare phenomenon in copper mining. The mine’s global porphyry peers in terms of output have histories often dating back to the 19th century.
One of the largest copper mines to come on line in decades, it contributed 1.5% of the world’s output. To put that in perspective that’s considerably more…
