16
Dec
14:27
Panama orders closure of giant Cobre Panama copper-gold mine
The government of Panama is ordering First Quantum Minerals to suspend operations at its flagship Cobre Panama copper-gold mine, after talks failed to finalise a contract extension that would have produced increased payments to the government from the mine, Kallanish reports.
The parties had reportedly agreed on minimum tax and royalty payments of $375 million/year from subsidiary Minera Panama to the government, but other sticking points remained. The parties had…
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