Clock not yet ticking for First Quantum to halt Panama mine - Minister copper Panama investment mining
The 10-day limit set by Panama's government last month for Canadian miner First Quantum to offer a plan to shut down its copper mine amid a contentious contract dispute has not yet started, the country's Commerce Minister said on Wednesday.
Contract termination terms are among the sticking points to reach an agreement, the minister said. He noted the company is asking the government to pay 85% of the mine's fair market value in the event of termination.Tristan PascallPascall instead emphasized his readiness to agree to, and even exceed, government demands on environmental and labor standards as well as revenues in a new contract.
Since last month, both parties are in arbitration, with Alfaro expressing confidence as talks continue.
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