Bankruptcy a given now…Viva Panama 🇵🇦 - The chief executive of Canadian miner First Quantum said he would have to look into how the company could sustain its finances in the long term, given Panama's push to annul operations at its local copper mine, the miner's biggest revenue source.
"We have strong finances in the short and medium term, but yes, we have to see how we sustain them in the long term," Tristan Pascall said in an interview with Panamanian newspaper La Prensa published on Friday, when asked about the risk of bankruptcy for the company if Panama operations end.
The company has notified buyers it will not be able to meet agreements due to force majeure, Pascall added.