Panama President-elect Raul Mulino has ruled out talks with First Quantum Minerals until the Canadian miner drops multiple arbitration proceedings it has launched against the government for shutting down its Cobre Panama mine, reported Reuters. “To consider talking about mining, those arbitrations need to be suspended,” Mulino said, noting the government’s preeminent role in any mining project in Panama. Mulino…
Read More
First Quantum Minerals has confirmed that it will place the Ravensthorpe Nickel Operation (RNO) in Western Australia on care and maintenance due to lower nickel prices and higher operating costs, reported ABC News. “It is anticipated all production will cease by late May, with various activities underway in the coming weeks to ensure a planned, safe wind-down of processing and…
Read More
State-run Korea Mine Rehabilitation and Mineral Resources (KOMIR) is seeking 1 trillion won (US$747.1 million) from the government of Panama over expected losses from the shutdown of the Cobre Panama copper mine, reported The Korea Economic Daily. KOMIR had acquired a 10% stake in Minera Panama, a subsidiary of First Quantum Minerals, in 2009. Minera Panama is the operator of…
Read More
Canadian miner First Quantum Minerals has suspended commercial production at its flagship Cobre Panama copper mine in Panama after the country’s Supreme Court ruled its contract as unconstitutional, reported Reuters. President Laurentino Cortizo said in a televised address that “the orderly and safe closure of the mine” would begin as soon as the ruling was formerly published in the official…
Read More
First Quantum Minerals’ Minera Panama and the workers union Utramipa reached an agreement to avoid a planned strike at its Cobre Panama copper mine, reported Reuters. The news agency said Utramipa had threatened to stop work alleging an impasse in negotiation with the directors of Minera Panama over profit sharing and wage increases. Minera Panama confirmed in a September 9…
Read More
Canadian miner First Quantum Minerals (FQM) has placed an additional order with Metso for the delivery of minerals processing equipment to their Kansanshi copper mine S3 expansion in Zambia.
Read More