Significant ‘advances’ made in Panama copper mine dispute – minister miningnews
on water payments, taxes, and easements in the drafting of a new contract for the firm’s major copper mine, a senior government minister said on Tuesday.
“I hope to resolve the remaining contention points soon,” said Federico Alfaro, Panama’s trade and industry chief, toldFirst Quantum and Panama’s government have been locked in a prolonged contract dispute with tax and royalties at the heart of the stalemate.Pending issues include language that would govern termination of a new contract in the event of violations, Alfaro noted.
Panama’s maritime authority last month ordered First Quantum’s local subsidiary, Minera Panama, to suspend loading operations at a major port, blocking exports from the Cobre Panama copper mine.The government has issued an order for the mine to halt operations, but the order’s deadline has not yet elapsed.
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