Clock ticking for port services to resume or Cobre Panama will be shut down

Clock ticking for port services to resume or Cobre Panama will be shut down copper gold mining Panama dispute

While Canada-based First Quantum Minerals remains locked in discussions with the government of Panama surrounding a refreshed concession contract for the Cobre Panamá copper mine, the clock is ticking for concentrate exports to restart as storage capacity will be a problem in less than a week.

Minera Panama has initiated arbitration processes under the existing concession contract and the Canada-Panama free trade agreement – both processes of which are in the initial stages, First Quantum said. First Quantum increased its 2022 adjusted earnings to $1.06-billion , from $826-million . Adjusted net earnings for the fourth quarter came to $151-million .

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