Protest against First Quantum Minerals - Bloomberg by Walter Hurtado

Panama’s government said it will shut a $10 billion copper mine owned by First Quantum Minerals Ltd., damping hopes that the company might reach a new deal to keep operating after a supreme court ruling against it.

Authorities will start “the transition process for the orderly and safe closure of the mine,” President Laurentino Cortizo said in a post on X Tuesday. He didn’t say how long the process might take. Production had already been halted after protesters blocked supplies from reaching the mine.

https://www.bloomberg.com/news/articles/2023-11-28/panama-to-shut-down-first-quantum-mine-after-ruling-president

Protester wave Panamanian flag ...apher: Walter Hurtado/Bloomberg

Protester wave Panamanian flag during a demonstration against First Quantum Minerals Ltd. in Panama City, Panama, on Friday, Nov. 3, 2023. President Laurentino Cortizo pass a Law that prohibits new mining concessions and renewal of existing contracts. This during the Panama independence day from Colombia. Photographer: Walter Hurtado/Bloomberg

Protesters wave Panamanian flag...apher: Walter Hurtado/Bloomberg

Protesters wave Panamanian flags during a demonstration against First Quantum Minerals Ltd. in Panama City, Panama, on Friday, Nov. 3, 2023. President Laurentino Cortizo pass a Law that prohibits new mining concessions and renewal of existing contracts. This during the Panama independence day from Colombia. Photographer: Walter Hurtado/Bloomberg

wounaan indiginous attend and d...Walter Hurtado Lozano/Bloomberg

wounaan indiginous attend and dance during demonstration to celebrate a court ruling against First Quantum Minerals Ltd., during Independence Day in Panama City, Panama, on Tuesday, Nov. 28, 2023. Panama will shut down the FQM copper mine in the country after the government receives the top court ruling against a law approving a contract for the mine, President Laurentino Cortizo said on Tuesday. Photographer: Walter Hurtado Lozano/Bloomberg

Protesters attend a demonstrati...Walter Hurtado Lozano/Bloomberg

Protesters attend a demonstration to celebrate a court ruling against First Quantum Minerals Ltd., during Independence Day in Panama City, Panama, on Tuesday, Nov. 28, 2023. Panama will shut down the FQM copper mine in the country after the government receives the top court ruling against a law approving a contract for the mine, President Laurentino Cortizo said on Tuesday. Photographer: Walter Hurtado Lozano/Bloomberg

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