Reuters exclusively reported that Canada’s First Quantum Minerals was considering putting its key Panama copper miner on care and maintenance from Nov. 23, effectively shutting production at a mine that accounts for about 1% of global output. Citing sources familiar with the matter, Reuters reported that the move follows protests that blocked coal from reaching First Quantum’s plant. Supply concerns at First Quantum’s Panama contributed to copper prices jumping to two-month highs traders said while First Quantum shares extended fall to drop as much as 5.7% on the news.
Exclusives | North America
First Quantum plans maintenance for Panama copper mine amid protests
20 November 2023, 12:00 am
1 min read
FILE PHOTO: View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris Martínez/File Photo