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Dec 8, 2023 · 1:13. We focus on extracting materials that are vital to today’s society. Nov 13, 2023 · First Quantum Minerals says its Panamanian subsidiary is ramping down activity at its massive Cobre Panama copper mine. Cobre Panama, located about 120 kilometres west of Panama City, is one of the world’s largest new copper mines to open in the past decade, according to First Quantum. Approximately 90% of the workforce at Cobre Panama is Panamanian and it is estimated that approximately 1 in 50 people from Panama’s working population is employed, directly or indirectly, by the mine 1 . 3% to 19. Panama’s new Mar 8, 2023 · Panama’s maritime authority will allow First Quantum to resume exporting copper concentrate, and processing at the mine is set to resume in coming days, the company said Wednesday in a statement Live and work in Panama. 23 due to coal supplies being blocked by protestors opposing the government's contract with one of the world Nov 19, 2023 · Blockades have even moved off land, as last Friday a ship with supplies for First Quantum’s unit in Panama was unable to dock as local boats blocked off access to the Punta Rincon port. Months of protests disrupted the region and led to a tragic event. History. 17 earnings per share) and adjusted earnings 1 of First Quantum Minerals Ltd. Another lawyer said the court could also move to declare parts of Nov 28, 2023 · Panama’s government said it will shut a $10 billion copper mine owned by First Quantum Minerals Ltd. But as the Financial Post reported, the company “[is] still holding out hope for Cobre Panama. A. While one ore processing train has been shut down, two remain operational Apr 16, 2024 · A $10 Billion Copper Mine Is Now Sitting Idle in the Jungle. Únase a nosotros para la experiencia personal y profesional de su vida. is seeking $20 billion from Panama in a free trade arbitration case after the Central American nation shut down the company’s flagship copper mine late last year. 400 millones de dólares), en parte debido a la desaceleración del gasto en Cobre Panamá, así como a medidas para combatir el crecimiento de costos en sus minas de Zambia. Mar 31, 2023 · Tras dos años de negociaciones, la minera canadiense First Quantum Minerals (FQM) y su subsidiaria Minera Panamá (MPSA), acordaron con el gobierno panameño un nuevo contrato de concesión minera para continuar con la explotación de los yacimientos de cobre en ese país, una de las diez minas de ese mineral más grandes del mundo. Jan 16, 2024 · First Quantum said it would reduce its workforce to below 1,000 workers from about 1,400 workers at the Panama mine, depending on environmental stewardship programs. We employ and empower expert decision makers at every level, and let them find the best way to solve problems, free from the bonds of bureaucracy. ‘s lucrative copper mine in December seemed like the final straw for the company, which has faced several issues in the Central American country in recent years. Toll-free International: 1-604-638-5340. 5% by purchasing 1. La mina se encuentra a 120 Km al oeste de la Ciudad de Panamá en la Provincia de Colón, cerca de la costa caribeña. Uncertainty around its flagship mine in Panama had already wiped about C$10 billion off First Quantum’s market Nov 30, 2023 · The future of First Quantum's Cobre Panama mine, which accounts for about 1% of global copper output, became uncertain after Panama President Laurentino Cortizo on Tuesday announced the closure of May 6, 2024 · First Quantum Minerals seeks dialogue with Panama's new administration to resolve dispute over Cobre Panama mine, after the election of Jose Raul Mulino as the country's new president. 45-billion Q4 loss on Panama Cobre Panamá es una de las operaciones mineras nuevas más interesantes del mundo y la única mina de nivel mundial en la República de Panamá. Mar 8, 2023 · Panama City — After a three-month standoff between the Panamanian government and Canadian mining company First Quantum Minerals, during which the former ordered the company to cease mining operations and the latter launched arbitration proceedings, the government announced Wednesday that the two sides have reached an agreement on the final text of the concession contract and the payment of Nov 26, 2023 · On Oct. 00/lb, a molybdenum price of $13. . Dos años antes, en 1996, se fundó, consolidando previos intereses mineros que datan desde la década de 1980, la corporación que hoy conocemos como First Quantum. 28, 2023 (GLOBE NEWSWIRE) - First Quantum Minerals Ltd. In 2019, we produced over 702,000 tonnes of copper and we expect growth in copper production to continue in 2020 as Cobre Panama continues its ramp-up. First Quantum was born out of a belief in the enduring value of copper. Jan 10, 2023 · The Company will host a conference call and webcast to discuss developments in Panamá regarding the status of the Cobre Panamá mine on Tuesday, January 10, 2023, at 8:30 a. Dec 16, 2022 · TORONTO, Dec. The actual cut-off grade for the estimate varies due to variable processing recovery, but otherwise reflects a longer-term consensus copper price of $3. Jan 10, 2023 · Shares of First Quantum slipped 0. Mar 8, 2023 · First Quantum paid $61 million in royalties to Panama's government in 2021, while the Cobre Panama mine posted sales revenues of $3. Jan 4, 2024 · The union representing workers at First Quantum's copper mine in Panama on Wednesday warned of another union's plan to "invade" the site next week, the latest face-off over the now-shuttered mine Nov 20, 2023 · Under First Quantum’s existing mining contract, the company had agreed to pay a minimum of US$375-million in taxes a year to Panama, or about nine times more than it had previously been paying. Nov 13, 2023 · Panama's mining chamber has urged against canceling the contract, saying First Quantum could sue Panama for at least $50 billion. 94 in Toronto. Home Careers Work and Lifestyle Panama. (416) 361-6400 Toll-free: 1 (888) 688-6577. (“First Quantum” or “the Company”) (TSX: FM) today announced that its subsidiary, Minera Panamá S. m. Panama’s Commerce Ministry is expected to make its first technical inspection of this mine on Thursday, since the Supreme Court ruled that the government’s concession with the Canadian mining company First Quantum Minerals was unconstitutional, and start the process of closing it. The most liquid May 3, 2024 · PANAMA CITY, May 3 (Reuters) - Panama will bar First Quantum (FM. 20 for the Cobre Panama concession, which contributes 1% to global copper production and 5% to Panama's Dec 4, 2023 · The agreement comes at a time when First Quantum is being asked to close its giant copper mine in Panama, which accounts for about 1. Our business, and our way of working, are designed to get the maximum value from each project. Panama's Supreme Dec 1, 2023 · The contract, called unconstitutional by Panama's Supreme Court, was agreed between the company and the country's government in October, giving First Quantum a 20-year mining right with an option Nov 13, 2023 · The court's nine judges are weighing whether to revoke First Quantum's contract for the Cobre Panama mine, a significant resource that contributes 5% to Panama's GDP and 1% to global copper First Quantum planea recortar el gasto de capital en US$400 millones este año (a un rango de 1. 20, 2023 (GLOBE NEWSWIRE) -- First Quantum Minerals Ltd. 000 millones. 50/lb, a gold price of $1,200/oz and a silver price Mar 14, 2023 · Panama's Maritime Authority has lifted a suspension on First Quantum Minerals' operations at the port of Punta Rincon, which the Canadian company uses to export copper concentrate from its key Dec 1, 2023 · Cobre Panama, in production since 2019, generated 112,734 tonnes of copper in the third quarter of 2023, contributing $930 million to First Quantum’s overall third-quarter revenue of $2. Panama and First Quantum initially tussled over the terms of a new contract to run the mine. (“First Quantum” or “the Company”) (TSX: FM) announced today that Law 406, which approves the refreshed mining concession contract (“Concession Contract”) for the Cobre Panamá mine, was published in the Official Gazette of Panamá on October 20, 2023. 9 to take over its closed copper mine and urged the government to take Nov 20, 2023 · Protests have escalated since the government and First Quantum signed a new contract on Oct. El presidente electo, José Nov 29, 2023 · First Quantum's local subsidiary, Minera Panama, said in a statement earlier this month that small boats had blocked its port in Colon province, preventing supplies from reaching the mine. Nov 28, 2023 · The contract, called unconstitutional by Panama's Supreme Court, was agreed between the company and the country's government in October, giving First Quantum a 20-year mining right with an option Feb 21, 2024 · A view of Cobre Panama mine of Canadian First Quantum Minerals, one of the world's largest open-pit copper mines, during a media tour, in Donoso, Panama, January 11, 2024. TSX:FM 19. ’s flagship copper mine received final approval from the Panamanian Congress for a revised operating contract, ending years of legal uncertainty. 14, 2023 (GLOBE NEWSWIRE) - First Quantum Minerals Ltd. First Quantum's subsidiary Minera Panamá S. It included a 20-year mining right with an option to extend for another 20 years. Panama’s government hasn’t provided a legal basis to First Quantum Minerals Ltd. Bloomberg — First Quantum Minerals Ltd. The Supreme Court has published its ruling and confirms that it intends Nov 29, 2023 · Cobre Panama, in production since 2019, generated 112,734 tonnes of copper in the third quarter of 2023, contributing $930 million to First Quantum’s overall third-quarter revenue of $2. (“First Quantum” or “the Company”) (TSX: FM) announces preliminary production for the three months (“Q4”) and year ended December 31, 2023, guidance for production, capital expenditures and costs for the years 2024 to 2026 and an update on balance sheet Dec 2, 2023 · Panama published a ruling finding Canadian miner First Quantum's contract for an open-pit copper mine in the Central American country unconstitutional in the official gazette on Saturday. First Quantum Minerals Ltd. Webcast: www. 47: Copper recovery (%) 91: Copper production (tonnes) 330,863: Gold production (ounces) Oct 28, 2023 · CIUDAD DE PANAMÁ, 28 oct (Reuters) - La unidad panameña de la minera canadiense First Quantum se declaró profundamente preocupada el sábado por el ingreso de embarcaciones no autorizadas a un puerto que opera en el país, en medio de protestas antigubernamentales por una mina local. ’s dollar bonds have staged a rebound, recovering most of the losses they incurred amid a fallout with Panama over the company’s copper mine. 63 (3. - Home. Panama’s government formally ordered First Quantum Minerals Ltd. "Minera Panamá condena el intento ilegal y violento que está ocurriendo en estos momentos, cuando Nov 20, 2023 · Canada's First Quantum Minerals will carry out maintenance at its Panama mine from Nov. “MPSA made significant progress in negotiations with the Government of Panamá over the past several Jan 4, 2023 · First Quantum paid $61 million in royalties to Panama's government in 2021, while the Cobre Panama mine posted sales revenues of $3. says it remains committed to Panama and its flagship mine, even as the company follows orders from the government to indefinitely shutter the $10 billion operation. (“First Quantum” or “the Company”) (TSX: FM) today reports results for the three months ended December 31, 2022 (“Q4 2022”) of net earnings attributable to shareholders of the Company of $117 million ($0. 22, 2023 (GLOBE NEWSWIRE) - First Quantum Minerals Ltd. However, Panama's top court in 2017 deemed unconstitutional the law under which First Quantum was Feb 20, 2024 · First Quantum Minerals Ltd. See what we value. Con las clases presenciales suspendidas en Panamá se esperan reacciones ciudadanas por el recién aprobado In January 2022, negotiations between the Government of Panama and FQM started to define a new contract concerning the Cobre mine, Panama. In November 2023, during the protests in Panama, Jiangxi Copper, a Chinese company, became the largest shareholder of First Quantum, increasing its stake in Minera Panama from 18. Dec 15, 2023 · Panama's government has formally ordered the shutdown of the First Quantum Minerals FM Cobre Panama copper mine. in the coming months to discuss the environmental impact of its shuttered copper mine. “First Quantum’s update call struck a positive tone on the prospect of reaching an agreement with the government of Panama The Company will host a conference call and webcast to discuss developments in Panamá regarding the status of the Cobre Panamá mine on Tuesday, January 10, 2023, at 8:30 a. 00. 5% of the world’s production of the metal. Dec 28, 2022 · First Quantum has also notified the Government of its intent to initiate international arbitration under the Canada-Panamá Free Trade Agreement. (EST). A protester waves a Panamanian flag during a demonstration to celebrate a moratorium on Nov 28, 2023 · La decisión se produce tras semanas de manifestaciones en contra de la explotación por parte de First Quantum Minerals en una zona protegida. Los activistas celebran el fallo Nov 16, 2023 · Entra First Quantum. com or contact: Bonita To, Director Nov 29, 2023 · First Quantum's local subsidiary, Minera Panama, said in a statement earlier this month that small boats had blocked its port in Colon province, preventing supplies from reaching the mine. Nov 24, 2023 · The contract was inherited by First Quantum in 2013 after it became the operator of the mine. 4 billion — in part from slowed spending on Cobre Panama, as well as moves to combat Nov 28, 2023 · Shares in First Quantum were down 3% to A$9. E-Mail: info@fqml. 53,043. for pursuing a closure plan for its giant copper mine in the country, according to the metals producer Nov 28, 2023 · The contested contract gave First Quantum (NASDAQ: QMCO) a 20-year mining right with an option to extend for another 20 years in return for $375 million in annual revenue to Panama. First Quantum received an initial “framework” from Panamanian authorities on Tuesday for closing the mine by June of next year, and will follow up First Quantum Minerals Ltd. Feb 23, 2023 · First Quantum's local unit, Minera Panama, will begin a partial demobilization of its workforce of over 8,000 employees and contractors, and expects the impact to increase significantly in the Dec 21, 2023 · First Quantum Minerals Ltd. A. Jun 10, 2024 · The closure of Cobre Panama hit First Quantum’s finances hard. Nov 29, 2023 · First Quantum is yet to confirm a shutdown as a result of the court’s decision, but it has been forced to stop production at the mine due to a blockade by protesters at its port. Dec 31, 2021 · First Quantum achieved its highest ever annual copper production of 816kt, a 5% increase from 2020, attributable to record production at Cobre Panama and the resilience of our other operations in dealing with the ongoing challenges brought about by COVID-19 over the last two years. After 20 years we remain even more convinced of copper’s importance to the modern world. President-elect Jose Raul Feb 2, 2024 · 5:08. 16, 2022 (GLOBE NEWSWIRE) - First Quantum Minerals Ltd. Spectacular beach-side city living; fast-paced, vibrant Panama City; sleepy mountain Oct 31, 2023 · Panama's government and the company agreed to a contract, that would guarantee Panama annual income of $375 million while allowing First Quantum's local unit to operate the Cobre Panama mine for Feb 21, 2024 · Cobre Panama mine was First Quantum Minerals’ largest copper operation. (“First Quantum” or “the Company”) (TSX: FM) notes the announcement by the Supreme Court of Justice in Panama that it has declared Law 406 unconstitutional. first-quantum. Oct 31, 2023 · First Quantum Mineral, la empresa a la que pertenece Minera Panamá, declaró este martes en un comunicado estar a favor del diálogo con los panameños en medio de las protestas. Oct 31, 2023 · We remain focused on the safety and well-being of our more than 8,000 employees who continue to operate the mine. 2 billion for the year, company data showed. Dec 20, 2023 · First Quantum Minerals Ltd. Jan 5, 2024 · Canadian miner First Quantum's local unit in Panama said on Friday it is "deeply concerned" about protests announced for Jan. The Cobre Panama mine was set to be the centerpiece Mar 6, 2024 · First Quantum Minerals is opening its Panamanian copper mine for public visits in an attempt to gain support for restarting operations under the next government. Conference call and webcast details: Toll-free North America: 1-800-319-4610. Law 406 approved the concession contract for the Cobre Panama mine on October 20, 2023. 07 in Toronto on the news Tuesday. (“First Quantum” or “the Company”) (TSX: FM) issued the following statement today in response to the latest developments regarding the Cobre Panamá mine operated by its subsidiary Minera Panamá, S. Nov 3, 2023 · First Quantum is proud of its contribution to Panama. 1:57. We know we can only succeed when we look after the people and places where we Nov 3, 2023 · First Quantum Minerals said on Friday production at the Cobre Panama mine remains uninterrupted hours before Panama's congress passed a law banning new mining concessions after protests, including Jan 11, 2024 · The Cobre Panama open-pit copper mine stands in Donoso, Panama, Thursday, Jan. Nov 19, 2023 · It centers on the Canadian mining company First Quantum, which has produced 350,000 tons of copper in Panama since 2019 and added 5% to the country’s total gross domestic product. First Quantum Minerals bet big on a copper mine in Panama. ” As Pascall said: “We are absolutely committed to Panama. Vea más detalles del contrato minero y sus antecedentes, en este enlace: Entre fuertes manifestaciones populares, el Ejecutivo sancionó la noche del viernes la ley que ampara la concesión de First Quantum Minerals por 40 años. com or contact: Bonita To, Director, Investor Relations. , damping hopes that the company might reach a new deal to keep operating after a supreme Copper ore milled (000's tonnes) 77,647: Copper ore grade processed (%) 0. Feb 16, 2024 · The shutdown of a major First Quantum FM-T mine in Panama has reinforced downward pressure on the country’s ‘BBB-’ rating and its First Quantum reports US$1. to end all operations at its $10-billion copper mine in the country, according to the Canadian company’s local unit Oct 22, 2023 · (In United States dollars, except where noted otherwise) TORONTO, Oct. El presidente electo, José Raúl Mulino, ha hecho pocas declaraciones sobre la mina de First Quantum, valorada en US$10. On Feb 23, 2023 · February 23, 2023 at 9:40 AM EST. 02 billion. Nov 20, 2023 · TORONTO, Nov. Jan 15, 2024 · First Quantum plans to cut capital spending by $400 million this year — to a range of $1. The miner has filed for two arbitration proceedings, one under 2 days ago · Listen. 11, 2024. 15, 2024 (GLOBE NEWSWIRE) - First Quantum Minerals Ltd. 15 + 0. made proposals to the Government of Panamá including yearly payments of US$375 million in tax and royalty revenue. May 6, 2024 · 1:52. (“MPSA”), has further ramped down operations at Cobre Panama to one remaining ore processing train. 2 billion to $1. 40%) Loading Cobre Panama is one of most exciting new mining operations anywhere in the world. com. says it remains committed to Panama and its flagship mine, even as the company follows orders from the government to indefinitely shutter the US$10 billion operation. Join us and have the personal and professional experience of your life. (“MPSA”). 200 a 1. This article is for subscribers only. ( Image courtesy of Cobre Panama. First Quantum Minerals (TSX: FM) said on Wednesday it would get a $500 million injection May 6, 2024 · A view of Cobre Panama mine of Canadian First Quantum Minerals, one of the world's largest open-pit copper mines, during a media tour, in Donoso, Panama, January 11, 2024. It is consistent with the Mineral Reserve estimate methodology reported in the Cobre Panama Technical Report. Then it all fell apart. said it has been forced to stop processing copper at its giant mine in Panama after the Dec 10, 2023 · The mine generated 112,734 tonnes of copper in the third quarter of 2023, contributing $930 million to First Quantum’s overall third-quarter revenue of $2. 20, Panama's government approved a contract for First Quantum to operate the copper Cobre Panama mine. Find out about us. May 6, 2024 · 1:42. Nov 11, 2023 · One out of every 50 people in Panama are directly or indirectly employed by the mine, First Quantum says. For further information, visit our website at www. Lawmakers passed the Feb 12, 2024 · The Panamanian government’s order to shut down Toronto-based First Quantum Minerals Ltd. 35 million shares. The Canadian mining company was forced to close the Cobre Panamá copper mine last year following weeks of civilian protests that led to suspension of operations, and the ensuing Supreme Court ruling that First Quantum’s contract (In United States dollars, except where noted otherwise) TORONTO, Feb. Nov 20, 2023 · The safety and well-being of the Cobre Panama workforce, of which approximately 90% are Panamanian and have been trained and developed by First Quantum, is the Company’s priority. Dec 31, 2022 · The Panamanian government has rejected Canada-based miner First Quantum's legal proceedings to avoid halting operations at the Cobre Panama mine, the Commerce and Industry Ministry said in a Nov 28, 2023 · TORONTO, Nov. Uno de sus fundadores es Philip Pascall, nacido en Zimbabue, al sur de Zambia. Apr 18, 2024 · First Quantum said in February it was seeking $20 billion through international arbitration over Panama's order to close the mine. As a result, First Quantum considered selling some of its stakes in other mines around the world, including Zambia. bolder, smarter, driven, together. Panama’s government says it will engage with First Quantum Minerals Ltd. We are expert responsible miners with a unique approach and a proven track record. Jan 15, 2024 · (In United States dollars, except where noted otherwise) TORONTO, Jan. intentará dialogar con el presidente electo de Panamá para resolver el conflicto que provocó el cierre de la mina Cobre Panamá. The initial exploration of the site began in 1968. The operation Oct 20, 2023 · First Quantum Minerals Ltd. We beat our own track, led by our shared values to be bolder, become smarter, and remain driven, together. The Cobre Panama mine plays an important role in Panama’s economic development. Without shipments arriving at the mine’s Punta Rincón port Dec 22, 2023 · 1:05. . TO) from extracting copper during the closure of the mine it lost the rights to run last year, the country's trade minister Jorge Nov 28, 2023 · The security and safety of the workforce at Cobre Panama remains a priority for the Company. May 6, 2024 · First Quantum Minerals is looking forward to talks with the new administration in Panama and to work together to find a resolution to its disputed Cobre Panama mine, the Canadian miner said on Monday. 2% to close at C$30. will seek talks with Panama’s incoming president in an effort to resolve the dispute that shuttered the Cobre Panama copper mine. me qe vt so fy of sd av mr xa