First Quantum Minerals May Suspend Panama Mine Operations Amid Protests

The Canadian company's market capitalisation has fallen about 45% since protests began over a new contract for the mine, which contributes 1% to global copper production.

Canadian mining company First Quantum Minerals may have to suspend operations at its Panama copper mine due to ongoing protests and a blockade of its mine's power plant.
The mine, operated by the company's local subsidiary Minera Panama, contributes 1% to global copper production and 3% to Panama's gross domestic product.
Protests began after the Panamanian government and First Quantum signed a new contract on Oct. 20 for the mine, with demonstrators alleging the terms are too generous to First Quantum and involve corrupt practices.
First Quantum's market capitalisation has fallen about 45% since the protests started in late October.
Panama's top court will decide whether to revoke the contract, possibly as soon as mid-December.