December 1, 2023

Long-term sustainability uncertain if Panama operations end, says First Quantum CEO

The company has notified buyers it will not be able to meet agreements due to force majeure.

December 1, 2023

First Quantum takes Panama to international court

It is also suspending its 2023 production guidance for Cobre Panama mine, which accounts for about 1.5% of the world’s copper production.

November 30, 2023

Panama trade minister resigns after mining contract backlash

Jorge Rivera has been named the replacement.

November 30, 2023

Panama mine shutdown threatens copper’s surplus

The expectation for a looser market in the near term has been reflected in copper prices.

November 30, 2023

First Quantum risks covenant breach, cost cuts if Panama shuts copper mine

The company is facing an estimated $625 million in debt maturities next year and another $1.8 billion in 2025.

November 29, 2023

Panama copper miners take to the streets in backlash to shutdown

“This is a source of income for more than 40,000 households, and we don’t have a response as to what is going to happen to us,” union leader Michael Camacho…

November 29, 2023

Panama to shut down First Quantum mine after ruling, President says

Authorities will start “the transition process for the orderly and safe closure of the mine,” Laurentino Cortizo said in a post on X.

November 28, 2023

Dwindling copper supply from Panama and Peru could wipe out global surplus in 2024

If the Cobre Panama mine was to be permanently shut, then the market could easily move into deficit in 2024, a Macquarie analyst said.

November 28, 2023

Nearly one-third of world’s tailings dams close to protected areas – study 

Researchers found that mine waste threatens biodiversity within protected areas all over the world.

November 27, 2023

Heliostar Metals stock rises on updated Ana Paula gold resource

The project was acquired from Argonaut Gold for $30 million earlier in the year.