Panama ships part of stockpiled copper out of closed First Quantum mine
me-metals: More than a quarter of the copper concentrate stockpiled at First Quantum Minerals’ Cobre Panama mine since it was closed in late 2023 has been shipped from the site, Panamanian officials said on Monday.
According to me-metals cited from mining.com, The removal of 33,000 metric tons out of a total of 120,000 tons left at the site appears to end uncertainty over the stuck copper, and signals a possible thawing of the relationship between the Canadian company and President Jose Raul Mulino’s government.
First Quantum declined to comment.
Panama’s prior administration had ordered the closure of the mine, which accounted for about 1% of global copper supply, following public protests over environmental concerns.
Panama’s trade and industry ministry said the removal of the stockpiled copper was gradual, without providing a date for the full quantity to be extracted, or further details about the shipment.
“More than 33,000 tons have already been shipped. This operation to remove the concentrate is gradual and depends on technical, logistical, and weather-related factors,” the ministry said in a statement to Reuters.
It said the ministry, along with Panama’s maritime, customs and environmental authorities, were supervising the process.
First Quantum in March said it agreed to discontinue arbitration proceedings over the mine, paving the way for talks to resume with the government.
source: mining.com
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