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Lawmakers in Panama scratched provisions from a proposed bill that would cancel a recently approved mining concession extending the life of a controversial but lucrative copper mine by at least... -November 02, 2023 at 09:01 pm EDT - MarketScreener
Battered Canadian mining company First Quantum Minerals is bracing for a rocky road ahead as Panama moves to strike down its contract to operate one of the world's largest copper mines. ...
By Valentine Hilaire and Divya Rajagopal (Reuters) -Battered Canadian mining company First Quantum Minerals is bracing for a rocky road ahead as Panama ...
(Reuters) -Battered Canadian mining company First Quantum Minerals is bracing for a rocky road ahead as Panama moves to strike down its contract to operate one of the world's largest copper mines. Panama's shock decision on Sunday to call a binding vote on whether to scrap the mine's recently struck 20-year contract sparked a sell-off in Vancouver-based First Quantum shares. Investors wiped out about C$8.35 billion ($6 billion), or 48%, from the company's market value this week, registering doubts about First Quantum's ability to operate its crown jewel.
(Reuters) -Panama's economy and finance minister on Friday reiterated support for a contract allowing the local unit of Canada's First Quantum to operate a major copper mine despite growing protests demanding its cancellation. "Panama is a mining country," Hector Alexander told Reuters, adding that without the mine, its 2023 economic growth would stand at 1% and not the 6% the government is estimating. Last week, lawmakers gave final approval for an extended concession covering the Cobre Panama