Vancouver-based miner says it will pay a minimum of US$375-million in taxes a year to Panama over the next 20 years
has reached a tentative agreement with Panama to end a bitter tax dispute that had threatened to shut down its biggest copper mine.
The pact is subject to a 30-day public consultation period, and must be approved by the government of Panama to be made permanent. The agreement will have a term of 20 years and carry an option to extend for an additional 20 years. Located 120 kilometres west of Panama City, Cobre Panama went into production in 2019, and cost in excess of US$6-billion to build.
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