First Quantum to trim work hours at stalled Panama copper mine
First Quantum Minerals is trimming working hours at its stalled copper mine in Panama in a bid to rein in the cost of preserving the site following last year’s shutdown order, the union said.
The Canadian firm will reduce extraordinary hours available to workers and end Sunday activities, according to a union statement. Changes will take effect August 15. First Quantum declined to comment.
“The company is executing this action without support from the workers that are still there to keep the project afloat,” union leader Michael Camacho said in a text message Tuesday.
The decision may put some pressure on the new administration of President Jose Raul Mulino as authorities review First Quantum’s plan to safeguard the site. Mulino has floated the possibility of reopening the mine for an unknown period to cover the cost of a permanent closure.
As a precursor to those talks, Mulino has asked the company to drop arbitration proceedings against Panama. First Quantum said it spent $115-million on care-and-maintenance at the site from January to June. Panamanian authorities have set the shutdown cost at $800-million.
Mulino’s predecessor ordered the shutdown of the Cobre Panama mine last year after weeks of public protests culminated in the country’s top court ruling that First Quantum’s contract was unconstitutional.
Comments
Projects
Latest Multimedia
Latest News
Showroom
Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.
VISIT SHOWROOM
Advancing leadership in technology, innovation, and project management excellence
VISIT SHOWROOM
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
