Panama Inspects First Quantum Copper Mine Following Court Ruling

Closure process expected to take years, thousands of jobs lost, company seeks arbitration.

Panama's government inspected the copper mine after the country's Supreme Court ruled the government's concession with First Quantum Minerals was unconstitutional.
The administration of President Laurentino Cortizo has promised to carry out an orderly closure of the mine, a process that will take years if done in a way to avoid environmental impacts.
The mine's closure resulted in the loss of thousands of jobs, with a small staff remaining to maintain the property.
Last March, Panama's legislature approved an agreement allowing First Quantum's local subsidiary, Cobre Panama, to continue operating the mine for at least 20 more years.
First Quantum has requested arbitration to block Panama's decision or obtain damages.