View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022.
The company has notified buyers it will not be able to meet agreements due to force majeure, Pascall added.
Panama's top court issued a ruling deeming First Quantum's contract with the government to operate a key copper mine unconstitutional.
The Canadian miner said on Friday it has initiated arbitration against Panama, with Pascall noting the company still does not know the amount it will be asking from the country during the process.
Reporting by Elida Moreno and Valentine Hilaire; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.
Persons:
Tristan Pascall, majeure, Pascall, Laurentino Cortizo, Elida Moreno, Valentine Hilaire, Brendan O'Boyle
Organizations:
Minerals, REUTERS, Aris, Panamanian, La Prensa, Panama, Thomson
Locations:
Panama, Donoso