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First Quantum Minerals Ltd T.FM

Alternate Symbol(s):  FQVLF

First Quantum Minerals Ltd. is a Canada-based global copper company. The Company produces copper in the form of concentrate, cathode and anode and has inventories of nickel, gold and cobalt. It is engaged in the production of copper, nickel, gold and silver, and related activities including exploration and development. The Company's operating mines include Cobre Panama, Kansanshi, Sentinel, Cobre Las Cruces, Cayeli, Guelb Moghrein, Ravensthorpe and Pyhasalmi. Its development projects include Enterprise, Haquira, Taca Taca and La Granja. Its operating segments include Cobre Panama, Kansanshi, Trident and Ravensthorpe. The Cobre Panama project comprises a series of copper porphyry deposits with main deposits, such as Balboa, Botija, Colina and Valle Grande. The Trident segment includes the Sentinel copper mine and the Enterprise Nickel development project. Its Ravensthorpe Nickel Operation is an open pit mine and primary processing plant located in the southwest of Western Australia.


TSX:FM - Post by User

Post by AlPanamaon Oct 29, 2023 10:39pm
315 Views
Post# 35706692

First Quantum mine contract going to National Referendum

First Quantum mine contract going to National ReferendumI live in Panama. We've had protests and road closures for the last 8 days. There was no way to get around. Yesterday, gas stations ran out of gasoline in our region due to blocked roads.

The country has turned 100%"anti-mining". Everyone thinks the deal is a huge ripoff of the Panamanian people. I don't necesarily agree, but I think Cobre Panama has done a horrible job over the years of selling the benefits of the mine to the people. 

The anti-mining attitude is related to a whole host of issues regarding government corruption, incompetence and lack of basic government services. The people have had enough, and unfortunately, the mine's contract became a lightening rod for discontent. 
I dont' think the referendum will approve the contract.

sources: https://www.prensa.com/
https://www.tvn-2.com/nacionales/presidente-cortizo-anuncia-referendum-derogacion_1_2088248.html

so, we're probably looking at international arbitration....
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