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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 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 ...
Porphyry copper deposits represent an important resource and the dominant source of copper that is mined today to satisfy global demand. [6] Via compilation of geological data, it has been found that the majority of porphyry deposits are Phanerozoic in age and were emplaced at depths of approximately 1 to 6 kilometres with vertical thicknesses on average of 2 kilometres. [6]
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.
Opponents of the Cobre Panama mine argued it would damage a forested coastal area and threaten water supplies. The announcement of the nine-member court's decision after four days of deliberations ...
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 ...
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.
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.