First Quantum Minerals Says Talks With MPSA And Panamá Resume For Future Of Cobre Panamá

(RTTNews) - First Quantum Minerals Ltd. (FM.TO) on Wednesday issued an update regarding the status of the Cobre Panamá mine operated by its subsidiary Minera Panamá, S.A. or MPSA.

The company said formal discussions between First Quantum, MPSA and the Government of Panamá have resumed on December 26, 2022 regarding the long-term future of the Cobre Panamá mine.

The talks continued on December 27 and are ongoing. The Company remains committed to seeking a mutually beneficial agreement as soon as possible.

The company said operations at Cobre Panamá continue as normal at this time with no disruption to production. It continues to do everything possible to support the Cobre Panamá workforce and protect its investment in the mine.

MPSA received formal notification from the government to submit a plan within 10 working days of such notification to suspend commercial operations at Cobre Panamá and put the mine under "care and maintenance."