First Quantum makes progress towards Panama mine restart - Bloomberg

June 21, 2025 03:22 AM AEST | By EODHD

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First Quantum makes progress towards Panama mine restart - Bloomberg — Image source: Kalkine Media

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[Yellow large dump truck in Utah copper mine seen from above] RiverRockPhotos/E+ via Getty Images First Quantum Minerals (OTCPK:FQVLF [https://seekingalpha.com/symbol/FQVLF]) has begun preparations to ship out 120K metric tons of semi-processed copper stranded since its Cobre Panama mine was shut in late 2023, Bloomberg reported Friday. Also, Franco-Nevada (NYSE:FNV [https://seekingalpha.com/symbol/FNV]), which has a supply agreement for metals from the mine, has agreed to halt its arbitration case against Panama, a step forward towards an eventual restart operations at the mine given that dropping the arbitration was a government prerequisite for negotiations. Panama President Mulino said Thursday that the slate is now clean to start talks about a potential restart, Bloomberg reported [https://www.miningweekly.com/article/first-quantum-takes-small-steps-in-long-road-to-panama-mine-restart-2025-06-20]. Mine workers and providers, as well as members of other unions and some local communities, announced a Sunday march to push for the resumption of Cobre Panama that would give some counterweight to public protests against mining that first led to its closure. It is still not clear whether Panama's government will be able to navigate lingering anti-mining sentiment in order to resume operations for the $10B mine that once accounted for 1% of all global mined copper.

MORE ON FIRST QUANTUM MINERALS AND FRANCO-NEVADA * First Quantum: Possible Cobre Panama Resolution Could Boost Stock [https://seekingalpha.com/article/4769105-first-quantum-possible-cobre-panama-resolution-could-boost-stock] * Franco-Nevada Q1 2025 Earnings Call Presentation [https://seekingalpha.com/article/4784375-franco-nevada-corporation-2025-q1-results-earnings-call-presentation] * Franco-Nevada: Optionality Today, Windfalls Tomorrow [https://seekingalpha.com/article/4775475-franco-nevada-optionality-today-windfalls-tomorrow]

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