First Quantum says production at Cobre Panama mine remains uninterrupted
First Quantum Minerals said on Friday production at the Cobre Panama mine remains uninterrupted hours before Panama's congress passed a law banning new mining concessions after protests, including blockades of key roads.
Protesters have expressed concerns over the contract signed by the government and the company late last month, arguing it is tainted by corruption and too favorable to the Canadian miner, as well as harmful to the environment.
The company said it remains "confident" with respect to its legal position in Panama.
The ban would not hurt current operations of First Quantum as its contract was approved before the passing of the law.
Shares of the Canadian miner were up 10.7% at C$17.40 in afternoon trade.
The bill was welcomed by citizens, but they have said they will keep protesting since it does not change the status of First Quantum's contract.
The Cobre Panama mine accounts for 1% of global copper output and is operated by a local unit of First Quantum.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation