First Quantum Minerals resumes copper exports from Cobre Panama mine after suspension

From Yahoo Finance: 2025-06-30 05:54:00

First Quantum Minerals resumes exporting copper concentrate from Cobre Panama mine after Panama’s court-ordered suspension. A bulk carrier departed for European smelter Aurubis with 120,000 tonnes of concentrate. Sales revenue supports facility maintenance as company seeks mining restart. Mine preservation ongoing since license deemed unconstitutional in November 2023.

Panamanian government approved export, following Supreme Court ruling. Cobre Panama, one of the largest copper mines opened in the last decade, has significant proven reserves. Situated in Colon Province, the mine is a major investment in Panama, representing 12% of the nation’s GDP.

President Mulino announced no new mining contract law to resolve ongoing Cobre Panama dispute, leaving stakeholders uncertain. First Quantum focused on safe and responsible management of the mine. Transition phase initiated at government’s request after court ruling.

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