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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.
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 ...
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 main deposits are at Botija, Colina and Valle Grande.
In March, Panama’s legislature reached an agreement with First Quantum allowing Minera Panama to continue operating the huge copper mine for at least 20 more years. The open-pit mine was ...
The new law will still allow Minera Panama to operate an open-pit copper mine in the state of Colon for 20 years, with a possible extension for another 20 years. Panama president signs into law a ...
The closure of the Cobre Panamá copper mine in 2023 was also a significant issue, with all candidates supporting the Supreme Court's decision to annul a 20-year contract awarded to First Quantum Minerals as unconstitutional. However, Roux, Lombana and Maribel Gordón supported the total closure and conversion of the mining site. [81] [5]
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 ...