INSUBCONTINENT EXCLUSIVE:
also ordered the restart of the 300-megawatt thermoelectric power plant previously used to operate the massive Cobre Panama facility
The previous Panamanian government shut down the $10 billion open-pit mine in December 2023.This decision came after nationwide
First Quantum subsequently launched international arbitration proceedings against Panama, seeking $20 billion in damages.Mulino did not
The facility remains crucial to any potential mine restart plan, though significant hurdles remain before operations could resume.Cobre
$10 Billion First Quantum Mine Closure in Panama
(Photo Internet reproduction)The mine employed nearly 7,000 people directly and supported about 40,000 jobs indirectly throughout Panama
First Quantum has already cut thousands of positions since operations ceased.Recent public sentiment shows shifting attitudes toward the
Mine Reopening in PanamaA separate poll showed opposition to permanent closure dropped from 81% to 44% over the past year
First Quantum has intensified its public relations campaign in recent months
The company now conducts mass mine visits and public events to gain support for reopening.President Mulino previously stated that First
Quantum must drop its arbitration proceedings before any negotiations can begin
The mine produced about 1.5% of global copper supply while operating at full capacity.Mining experts suggest potential solutions include
state ownership stakes, rigorous contract renegotiations, or enhanced environmental oversight mechanisms to balance economic benefits with
