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View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. Operations are set to resume once the port blockade is resolved, the spokesman added. Protests have escalated since the government and First Quantum signed a new contract on Oct. 20 for the Cobre Panama concession, which contributes 1% to global copper production and 5% to Panama's gross domestic product. "In terms of production we are talking about a temporary halt because of the illegal blockade. The company says an "illegal blockade" of small boats at the mine's Punta Rincon port has been disrupting the mine's activity.

Persons: Michael Camacho, Valentine Hilaire, Divya Rajagopal, Brendan O'Boyle, Sarah Morland Organizations: Minerals, REUTERS, Aris, Quantum Minerals, Reuters, First, Thomson Locations: Panama, Donoso, Rincon

☆ Panama port blockade keeps supplies from First Quantum mine, company says
▼ + stars: | 2023-11-17 | by ( Elida Moreno | ) www.reuters.com time to read: +2 min

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. Protests have in recent weeks escalated against the miner's contract for a major copper mine operated by the company's local unit, known as Minera Panama. "The illegal actions carried out by small vessels in the port of Punta Rincon have affected the delivery of supplies that are required by Minera Panama, including for energy generation," the company said. Earlier this week, First Quantum reported that the protests blocking the port had reduced ore processing at its Cobre Panama mine, the first sign that the mine's output was at risk. On Thursday, the union for Minera Panama said it reached agreements with the company to ensure worker pay as protests kept some workers from reaching their jobs.

Persons: Senan, Eli Moreno, Brendan O'Boyle, Kylie Madry Organizations: Minerals, REUTERS, Aris, PANAMA CITY, Reuters, Minera, Aeronaval Service, CSL, Cobre, Thomson Locations: Panama, Donoso, PANAMA, Punta Rincon, Minera Panama, Panamanian, Cobre Panama

View of the Cobre Panama mine, of Canada's First Quantum Minerals, in Donoso, Panama, December 6, 2022. Panama has a long mining history but Cobre Panama is the first major new investment this century. There are now calls not just for the Cobre Panama mine to be closed but for Panama to shun all future mining as well. By the time detailed negotiations on a new contract started in 2021, the mine was already ramping up to full production. The tale of Cobre Panama is an object lesson in getting it wrong.

Persons: El Salvador, Rosalba O'Brien Organizations: Minerals, REUTERS, Aris, Quantum, Environmental, Panama's, Justice, Supreme, Canada, Swedish Sámi Association, European Union, Reuters, Thomson Locations: Panama, Donoso, Rincon, Cobre Panama, Canada, American, Europe, Serbia, Scandinavia, Russia, Panamanian

View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. The disruption was caused by an "illegal blockade" of small boats at the mine's Punta Rincon port, the company said in a statement. The protests began after the Panamanian government and First Quantum signed a new contract on Oct. 20 for Cobre Panama, which contributes 1% to global copper production and 5% to Panama's gross domestic product. The demonstrators say the new terms are too generous to First Quantum and allege corrupt practices in its approval. A reduction of ore processing could potentially impact about 2% of Panama's national workforce, the company said, adding that two ore processing trains remain operational.

Persons: Sourasis Bose, Valentine Hilaire, Sriraj Kalluvila, Rosalba O'Brien Organizations: Minerals, REUTERS, Aris, Cobre, Reuters, Thomson Locations: Panama, Donoso, Rincon, Panamanian, Cobre Panama, Bengaluru, Mexico City

Panama's President Laurentino Cortizo Cohen addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 19, 2023. "I've respectfully listened to those who oppose the contract with Minera Panama," Cortizo said, using the name of First Quantum's local unit. Neither First Quantum nor Minera Panama immediately responded to requests for comment. On Saturday, Minera Panama voiced concern after protesters on boats approached the international Punta Rincon port where it operates. After Cortizo's announcement, Panama's main workers' union said its members will keep protesting in the streets until the contract is annulled.

Persons: Laurentino Cortizo Cohen, Eduardo Munoz, Laurentino Cortizo, Cortizo, I've, Minera, Valentine Hilaire, Elida Moreno, Daina Beth Solomon, Christian Schmollinger, Simon Cameron, Moore Organizations: General Assembly, REUTERS, PANAMA CITY, Sunday Panama, Minera, Central, Protesters, Critics, Punta Rincon, Thomson Locations: New York City, U.S, PANAMA, Panama, Central American, Minera Panama

☆ Panama gives Canada's First Quantum go-ahead to operate port terminal
▼ + stars: | 2023-03-11 | by ( ) www.reuters.com time to read: +1 min

PANAMA CITY, March 11 (Reuters) - Panama's Maritime Authority has lifted a suspension on First Quantum Minerals' operations at the port of Punta Rincon, which the Canadian company uses to export copper concentrate from its key Cobre Panama mine, company sources said late on Friday. Two spokespersons for Minera Panama, First Quantum's (FM.TO) Panama unit, told Reuters the suspension dated Jan. 26 had been ended, which was confirmed by a source at the Maritime Authority. The company, which spent weeks at loggerheads with Panama over Cobre Panama, had said that once the suspension ended, it would be able to resume activity at the port quickly. The Panamanian government and First Quantum said on Wednesday they had agreed on the final text for a new contract on the operations of Cobre Panama, which accounts for about 3.5% of the country's gross domestic product. About 60% of the copper concentrate exported through Punta Rincon is destined for factories in China.

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