"We have decided to unanimously declare unconstitutional the entire law 406 of October 20, 2023," Supreme Court President Maria Eugenia Lopez said.
First Quantum acknowledged the ruling and affirmed its "unwavering commitment to regulatory compliance in all aspects of our operations within the country."
Panama President Laurentino Cortizo said the country will abide by the court ruling.
For First Quantum, the Panama ruling would be a repeat of its decade-old experience in the Democratic Republic Of Congo.
The company exited DRC in 2012 after it filed an arbitration procedure against the African country for cancelling its mining contract.
Persons:
Aris Martinez, Maria Eugenia Lopez, Quantum, Laurentino Cortizo, Morgan, Ricardo Martinelli, Leonardo Di Caprio, Elida Moreno, Valentine Hilaire, Natalia Siniawski, Denny Thomas, Chizu Nomiyama, Mark Porter
Organizations:
Minerals, REUTERS, PANAMA CITY, Reuters, Panama, London Metal Exchange, Central, RBC, Democratic, Natural Resources Corporation PLC, Cobre, Thomson
Locations:
Panama's, Panama, Panama City, PANAMA, Central American, Democratic Republic Of Congo, Hollywood, Cobre Panama