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Gold/Mining/Energy : Mining News of Note

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To: LoneClone who wrote (169047)	12/12/2022 1:17:48 PM
From: LoneClone	Read Replies (1) of 192642

Cobre Panama negotiations with First Quantum at an impasse – govt miningweekly.com 12th December 2022 By: Creamer Media Reporter With only days to go before a contract must be signed to continue operations of the Cobre Panama copper mine, Commerce and Industries Minister Frederico Alafaro Boyd has said that discussions with Minera Panama – a subsidiary of First Quantum – have reached an impasse. The parties have until December 14 to sign a new contract, or the government has said that it will pursue an alternative path forward for the operation of the mine. “The discussions on the finalisation of a new contract have not advanced sufficiently and are at an impasse. The government of Panama reiterates that any new contract must faithfully reflect the agreement reached by Minera Panama and Panama in January 2022,” he said. In January, Minera Panama agreed to increase its royalty payments to $375-million a year for Cobre Panama and said that a revenue royalty would be replaced with a gross profit royalty.

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