https://www.engineeringnews.co.za
Copper|Environment|Roads
Copper|Environment|Roads
copper|environment|roads

First Quantum says production at Cobre Panama mine remains uninterrupted

3rd November 2023

By: Reuters

  

Font size: - +

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.

Edited by Reuters

Comments

Showroom

Rio-Carb
Rio-Carb

Our Easy Access Chute concept was developed to reduce the risks related to liner maintenance. Currently, replacing wear liners require that...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 10 May 2024
Magazine round up | 17 May 2024
17th May 2024
Photo of Martin Creamer
On-The-Air (10/05/2024)
10th May 2024 By: Martin Creamer

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.361 0.428s - 230pq - 2rq
Subscribe Now