View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022.
REUTERS/Aris Martínez/File Photo Acquire Licensing RightsDec 1 (Reuters) - First Quantum Minerals (FM.TO) has suspended its current-year production outlook for the Cobre mine in Panama and has initiated international arbitration over a contested contract with the country's government, the miner said on Friday.
The Canadian company said its local unit had started arbitration before the International Court of Arbitration to protect its rights under the 2023 concession.
On Tuesday, President Laurentino Cortizo said the Cobre Panama mine would be shut down, hours after Panama's Supreme Court declared the contract unconstitutional.
The miner exited the African nation in 2012 after filing an arbitration procedure for cancelling its mining contract.
Persons:
Laurentino Cortizo, Tristan Pascall, Tanay, Devika Syamnath
Organizations:
Minerals, REUTERS, Aris, International Court, Democratic, Thomson
Locations:
Panama, Donoso, Miami , Florida, Democratic Republic Of Congo, Bengaluru