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Panama Eyes Mine Stockpile Processing Amid Closure
16 Jan
Summary
- Panama's president plans to allow processing of Cobre Panama mine stockpiles.
- Miner First Quantum seeks to mitigate environmental risks with ore processing.
- Stockpile processing will not involve new extraction or reopening the mine.
Panama's President Jose Raul Mulino has announced a plan to allow the processing of stockpiled ore at the Cobre Panama copper mine, a significant development for Canadian miner First Quantum Minerals. This initiative, announced early this month, aims to address environmental and operational risks, including acid rock drainage, while ensuring a supply for the tailings management facility.
The Cobre Panama mine, once a major global supplier of copper, was closed in 2023 due to public protests concerning its tax contributions and environmental impact. First Quantum is currently awaiting formal government approvals to proceed with stockpile processing in collaboration with Panamanian authorities.
It is crucial to note that processing these stockpiles does not equate to reopening the mine. The company has emphasized that no new extraction, drilling, or blasting will be required. The government is expected to make a final decision on the mine's future by June.
