Base Metals
First Quantum subsidiary to suspend lawsuits against Panama
The decision comes after President Jose Raul Mulino said he authorized the company to export 121 000 t of copper concentrate stockpiled at its port in the mine, and signaled that he would begin to tackle the mine issue as soon as next week. Mulino has repeatedly said that the firm must drop its lawsuits against the country before talks on the mine can begin.
Shares of First Quantum rose 1.9% to C$20.72 at 2:39 p.m. in Toronto.
“This forms part of a transparent and constructive process that seeks a solution to benefit the workers, communities, providers and all Panamanians,” Cobre Panama said in the Friday statement.
“While we work on the next steps, our vision for the future of Cobre Panama continues to be clear; guaranteeing a responsible and transparent future for this project.”
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