NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Panama starts process for First Quantum's mine 'definitive' closure

Published 2023-12-15, 11:49 a/m
© Reuters. FILE PHOTO: View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris Martinez/File Photo
HG
-
FM
-

(Reuters) - Panama has started the process for Canadian miner First Quantum (TSX:FM)'s Cobre Panama mine's "definitive" closure, a government statement said on Friday, following the official notification for the miner to end operations.

The roadmap for the mine's closure will be presented to the country in the coming days, Panama's trade ministry said in a statement.

The company did not immediately reply to a request for comment on the mine closure.

Panama's government earlier this month ordered First Quantum to end mining operations at its lucrative copper mine, following a court ruling that found its contract unconstitutional.

© Reuters. FILE PHOTO: View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris Martinez/File Photo

The ruling said the contract violated 25 articles of the country's constitution.

Challenges against the contract were filed to the court in the midst of large protests against it.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.