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First Quantum steps up Cobre Panamá restart talks in Panama
The government has been weighing proposals as First Quantum processes stockpiled ore, and its first shipment is expected this month while about 38 million tonnes remain for roughly 12 months at current processing rates.
First Quantum Minerals is seeing renewed momentum toward restarting its halted Cobre Panamá copper mine in Panama, after government officials met with workers and suppliers as part of a review of the mine’s future, Mining.com reports. Commerce and Industries Minister Julio Moltó toured the Donoso, Omar Torrijos Herrera and La Pintada regions to gather input from mine workers, local authorities, and suppliers, with those proposals to be considered by the government’s interministerial commission. The process is supporting about 3,200 direct jobs and more than 3,000 indirect positions, with more than 91% of workers Panamanian and 17% women, based on figures presented during the meetings. The Panama government authorized First Quantum in April to remove and process stockpiled ore while the longer term decision is reviewed, and the company has been ramping processing in stages. First Quantum restarted one of three milling trains in May and produced its first concentrate in June, then shifted processing to a second train as part of a maintenance cycle. By the end of June, First Quantum had processed 2.1 million tonnes of stockpiled ore and produced about 3,200 tonnes of contained copper, and its first shipment is expected this month. Mining.com also notes that more than 38 million tonnes of stockpiled ore remain, containing an estimated 70,000 tonnes of recoverable copper, which the company says could support roughly 12 months of processing at the current rate. First Quantum estimates full operation would require about 6,000 workers, and it expects Cobre Panamá could reach 80% to 90% of capacity within six to nine months after required approvals are secured.
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