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Panama's moves raise questions about copper supplies, as Cobre Panama accounts for about 1% of global output. The $10-billion copper mine produces a critical metal for production of electric vehicles.
Cobre Panamá is an open-pit copper mine in Panama, located 120 km (75 mi) west of Panama City and 20 km (12 mi) from the Caribbean Sea coast, in the district of Donoso, province of Colón. The mine consists of four zones totalling 13,600 ha (34,000 acres).
A series of protests began in Panama on 20 October 2023 following the immediate passing of a 20-to-40-year mining contract between the government of Panama and First Quantum Minerals, [6] the operator of Cobre Panamá, the largest open-pit copper mine in Central America, placed 20 minutes away from the western coast of Colon Province and within a protected area of the Mesoamerican Biological ...
Last week, lawmakers gave final approval for the extended concession covering the Cobre Panama mine operated by Canada's First Quantum. The sprawling open-pit mine accounts for nearly 5% of Panama ...
On Oct. 20, Panama's government approved a contract for First Quantum to operate the copper Cobre Panama mine. It included a 20-year mining right with an option to extend for another 20 years. In ...
The mine has the capacity to produce 100,000 oz/yr. The Cobre Panama (ex Petaquilla) copper project is run by Minera Panama S.A. and owned by First Quantum and is under study to produce approximately 270,000 tpy of copper. Minera Petaquilla S.A. was a joint venture between Petaquilla Minerals Ltd. of Canada (52%) and Inmet Mining Corp., also of ...
Minera Panama, the local subsidiary of Canada’s First Quantum Minerals, which operates the mine in central Panama, said in a statement that “Cobre Panama acknowledges the court’s decision.”
In January 2022, negotiations between the Government of Panama and FQM started to define a new contract concerning the Cobre mine, Panama. [18] First Quantum's subsidiary Minera Panamá S. A. made proposals to the Government of Panamá including yearly payments of US$375 million in tax and royalty revenue.