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Panama president sees no immediate risk from First Quantum mine
Panama’s President Jose Raul Mulino said a government report shows there are no immediate environmental or safety risks from Cobre Panama, the First Quantum Minerals Ltd. copper mine that was shut in 2023.
Panama’s President Jose Raul Mulino said a government report shows there are no immediate environmental or safety risks from Cobre Panama, the First Quantum Minerals Ltd. copper mine that was shut in 2023.
Mulino cited a recent report conducted by the environment ministry, which examined minerals and other materials stored at the site. Mulino said the government will start to study a “conservation plan” for the mine in January.
“Right now, there is no irreversible contamination,” Mulino said Thursday. “Even though it doesn’t represent an imminent risk for the country at the moment, we can’t leave it abandoned perpetually so that it could eventually cause ecological damage.”
The $10 billion mine was shuttered in 2023 after Panama’s Supreme Court ruled that its operating contract was unconstitutional. Mulino, who took office in July, ordered the environmental audit of the mine to help determine whether the facility can be reopened temporarily ahead of a possible permanent shutdown. First Quantum is seeking damages from Panama via two ongoing arbitration cases.
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