Canadian company First Quantum Minerals will file an appeal on Tuesday against a Panamanian government order to halt operations at a copper mine in the Central American country, company CEO Tristan Pascall said.
In December, First Quantum was notified by the local authorities that it had to suspend its activity in the field, after missing the date to reach an agreement on a new contract for its subsidiary that implied an increase in the payment of royalties of at least US $375 million.
In a call with investors, Pascall also reported that the mining company is prepared to meet, and partly exceed, the objectives that the Government outlined to renew the company’s operating conditions, linked to income, environmental protection and labor standards.
Source: Reuters
Source: Gestion
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