First Quantum - Panama government agreement over Cobre Panama copper mine falls through
Canada’s First Quantum Minerals has failed to reach an agreement with Panama’s government over its operation of the Cobre Panama mine, the companyThe Vancouver-based miner, which faced a deadline of midnight on Wednesday to get a new royalty agreement in place, added that it remains open to dialogue.The Panama government had warned that if an agreement wasn’t reached by that time, it would take “alternative measures” to ensure the operation of the mine.
Minister Federico Alfaro Boyd noted they negotiated in good faith past the deadline last night, adding that early this morning First Quantum sent it a new proposal that “fundamentally changed” certain aspects of the agreement.
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