First Quantum CEO expresses: Commitment to Panama Is 'Absolute’

Initial framework

First Quantum Minerals has recently received from Panamanian authorities the initial blueprint for closing the Company’s flagship mine. The closure data was established by June 2024. The company and Panamanian Authorities will further discuss the detailed framework and conditions.

Responsible closure

Tristan Pascall and Ryan MacWilliam in an interview with Bloomberg have emphasized that all the efforts are now put into the responsible closure of the mine. It was indicated that the shutdown of the mine’s water treatment plant could influence the water quality in Cobre Panama.

Tristan Pascall has stated: “We want to be part of the solution in the long run in Panama. (…) In the immediate term, that means dealing responsibly with the imminent environmental issues that need to be addressed.”

The full interview with First Quantum CEO can be watched here.

Arbitration

Panama’s decision to close the First Quantum $10 billion operation under the countrywide protests has impacted the copper market, as well as First Quantum’s market value.

First Quantum has filed two arbitration notices in terms of mine closure.