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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).
The only metallic mine operating in Panama is Petaquilla Minerals Molejon epithermal gold deposit on the Ley 9, 1997 property in Panama in Colón Province. 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 ...
The short-lived Molejón gold mine, approximately 10 kilometres (6.2 mi) west of Coclesito, was the first modern mine in Panama. [12] It was operated from 2010 to 2013 by Petaquilla Minerals. [ 13 ] Adjacent to it is the copper-producing Cobre Panamá mine , which was the largest single private sector investment in Panama's history [ 14 ] and ...
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.
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.”
The Cobre Panama mine alone accounts for nearly 5% of Panama's economy. Also on Friday, Panama's top court agreed to consider a second lawsuit challenging the contract.
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.
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 ...