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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 main deposits are at Botija, Colina and Valle Grande.
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 ...
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 ...
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.
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.
Panama’s Supreme Court ruled unanimously Tuesday that a 20-year concession for a Canadian copper mine that has been the focus of widespread environmental protests was unconstitutional and the ...
In January 2022, negotiations between the Government of Panama and FQM started to define a new contract concerning the Cobre mine, Panama. [15] First Quantum Minerals subsidiary Minera Panamá S. A. made proposals to the Government of Panamá including yearly payments of US$375 million in tax and royalty revenue. These payments were offered ...
The mine is an important asset for both parties, accounting for about 3.5% of Panama's gross domestic product and about half of First Quantum's 2021 core earnings.