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Top related persons:
Hernan Arboleda - 1 Laurentino Cortizo - 1 Panamanians - 1 Arboleda - 1 Elida Moreno - 1 Valentine Hilaire - 1 Anthony Esposito - 1 Edwina Gibbs - 1
Top related locs:
Panama Donoso PANAMA Democratic Republic Of Congo
Top related orgs:
Minerals - 1 REUTERS - 1 Aris Mart - 1 PANAMA CITY - 1 Gross - 1 Panama - 1 JPMorgan - 1 Democratic - 1

Search resuls for: "Hernan Arboleda"


2 mentions found


☆ Exclusive: Panama may slash GDP growth view due to suspension of First Quantum mine
  + stars: | 2023-12-04 | 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. Some experts calculate Panama would have to pay at least $50 billion if it loses the case, equivalent to nearly 70% of GDP. Ahead of the supreme court ruling, S&P revised Panama's outlook to negative from stable on potential risks to investor confidence and economic growth if the contract was found invalid. For First Quantum, the developments in Panama could be a repeat of its experience in the Democratic Republic Of Congo. The miner exited the African nation in 2012 after its mining contract was cancelled.
Persons: Hernan Arboleda, Laurentino Cortizo, Panamanians, Arboleda, Elida Moreno, Valentine Hilaire, Anthony Esposito, Edwina Gibbs Organizations: Minerals, REUTERS, Aris Mart, PANAMA CITY, Reuters, Gross, Panama, JPMorgan, Democratic, Thomson Locations: Panama, Donoso, PANAMA, Democratic Republic Of Congo
☆ Analysis: Panama and First Quantum harden battle lines over key copper mine
  + stars: | 2023-01-03 | by ( Valentine Hilaire | ) www.reuters.com   time to read: +5 min
However, no agreement was forthcoming, prompting the two sides to raise the stakes to protect their interests in the mine, known as Cobre Panama. "Cobre Panama is the only metal mine operating in the country and many foreign companies started operations in Panama with its arrival. Failure to reach a deal could spook foreign investors at a time when Panama is looking to develop three other copper deposits that could bring in similar investments to Cobre Panama, said Morales. First Quantum paid $61 million in royalties to Panama's government in 2021, while the Cobre Panama mine posted sales revenues of $3.2 billion for the year, company data show. LUCRATIVE ASSETIn 2021, Cobre Panama represented more than half of First Quantum's earnings before interest, tax depreciation and amortization (EBITDA).
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