Formal meetings continue between First Quantum and the Government of Panama on the future of the Cobre Panama Mine

Angel Valdes | December 28, 2022

The First Quantum company in a statement reported that talks with the Government of Panama on the future of the Cobre Panamá mine were resumed “formal talks resumed on December 26, continued on December 27 and are ongoing,” the company reported. .

According to the note, the operations of Cobre Panamá continue without interruptions in production and that it is working on a series of steps to respond to the resolution sent by the National Directorate of Mineral Resources of the Ministry of Commerce and Industries on December 21 that requires that a plan is submitted within 10 business days of such notification to suspend commercial operations at Cobre Panama and place the mine under care and maintenance.

“We appreciate the constructive engagement of the Government of Panama this week. The preferred option for both parties is to reach a balanced agreement that benefits all parties for many years. We have ambitious plans for Cobre Panama and strongly believe that an agreement would pave the way for additional investment in Panama and its people,” said Tristán Pascal, CEO.

On December 15, President Laurentino Cortizo, in a message, ordered the Ministry of Commerce and Industry to initiate a plan to cease operation of the Cobre Panama Mine after failing to reach an agreement for a new contract.

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