A Panamanian government commission has recommended the orderly closure of First Quantum Minerals’ Cobre Panama mine, reversing expectations that the government was moving toward a full restart. The mine was halted in late 2023 after Panama’s Supreme Court ruled its contract unconstitutional.
The commission proposed negotiating a new, temporary arrangement with First Quantum to generate revenue from renewed operations and use the funds to pay for the mine’s definitive closure, rather than leaving Panama with the bill. President Jose Raul Mulino will make the final decision on the mine’s future.