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Panama’s congress on Friday approved a modified version of the government’s contract with a local subsidiary of Canadian miner First Quantum, after extended negotiations over the open-pit copper mine the firm operates and amid anti-mining protests.
The bill was approved in a third and final brief debate with 44 votes in favor, five against, and two abstentions. President Laurentino Cortizo’s administration and the Canadian miner initially agreed on the text of the contract to operate the key Cobre Panama copper mine in March, but it was awaiting the green light from Congress.
The original bill was then modified to remove clauses such as one which allowed the subsidiary to request restrictions on airspace, and another to extend its concession beyond copper and its associated minerals to also include gold, silver and molybdenum. The contract has sparked controversy in Panama, with critics objecting to the mine’s environmental impacts.South Africa’s QGC secures $1 billion for push into green metalsJFE Steel eyes stake in Teck’s coal business -sources
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