First Quantum Sees New Light In Restarting Cobre Panama

Panama’s decision to allow the export of copper concentrate from First Quantum Minerals’ (TSX: FM) long-shuttered Cobre Panama mine has reignited hopes for a full restart of one of the world’s most significant copper operations.

President Jose Raul Mulino’s authorization paves the way for the release of over 120,000 metric tons of copper concentrate that had been stranded since the mine’s forced closure in late 2023.

“It was being wasted, and Panama would need to be reimbursed once the products are processed outside of the country,” Mulino said.

The Cobre Panama mine, once responsible for roughly 1% of global copper production, had been stalled after the previous government ordered operations to cease over environmental concerns and a high-profile Supreme Court decision that declared the mine’s contract unconstitutional.

While these issues remain under legal scrutiny, Mulino’s move to restart the power plant and initiate exports signals his administration’s openness to a new path forward.

“The issue of the mine will be approached with great responsibility and taking into account at all times the national interest,” said the president. “We’ll start as of next week.”

First Quantum shares jumped 19% to a two-month high following the announcement. The Canadian miner welcomed the government’s stance and has long maintained its readiness to work with the government.

This follows the development that a final hearing under International Chamber of Commerce proceedings was recently postponed to February 2026, after the Panamanian government requested more time to prepare its arguments.


Information for this story was found via Reuters and the sources mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Snowline Gold: The Multi Billion Dollar Valley PEA

Euro Sun: Rovina Copper-Gold Project Secures Some Major Funding

Arizona Metals: The Disappointing Kay Mine Resource Estimate

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Panama Copper Mine Restart Could Be the Key to US Mineral Security

Resolving the dispute over Panama’s largest copper mine is increasingly seen as strategic to US...

Monday, May 12, 2025, 03:04:00 PM

Is Barrick Gold Buying First Quantum Minerals?

First Quantum (TSX: FM) is now the center of acquisition rumors, with Barrick Gold (TSX:...

Thursday, January 4, 2024, 09:49:00 AM

Two People Shot Dead at Protest Against First Quantum Mine in Panama

In Panama, two individuals participating in an anti-government protest were fatally shot on Tuesday, as...

Thursday, November 9, 2023, 11:45:22 AM

First Quantum Warns Environmental Risks Of Idle Copper Storage At Cobre Panamá Mine

Minera Panamá, a subsidiary of First Quantum Minerals (TSX: FM), has raised alarm bells regarding...

Tuesday, April 9, 2024, 12:46:03 PM

First Quantum Reportedly in Talks to Sell Stake in Zambian Mines to Chinese Miner

First Quantum Minerals (TSX: FM) is reportedly engaged in discussions to sell a stake in...

Friday, January 5, 2024, 11:58:00 AM