TORONTO/LONDON, Nov 20 (Reuters) – Canada’s First Quantum Minerals Ltd (FM.TO) is considering putting its key Panama copper mine in care and maintenance mode from Nov. 23, two sources familiar with the discussions told Reuters on Monday.
The move comes as protesters opposed to the mining contract awarded to First Quantum have blocked the shipments of coal that powers the Cobre Panama mine, the sources added. Cobre Panama is one of the newest and biggest copper mines in the world, accounting for about 1% of global production.
First Quantum did not respond to an email query by Reuters. Sources declined to be identified as the information is not public.
Reporting by Divya Rajagopal in Toronto and Julian Luk in London
Editing by Denny Thomas and Chizu Nomiyama
Divya Rajagopal reports on Canada mining sector, where she covers breaking news on critical minerals deals, takeovers and mergers in the mining sector and how miners deal with climate change and ESG imperatives. Divya previously worked as a financial journalist with Economic Times and CNBC TV18 based out of India. She holds a Masters in Global Affairs from the University of Toronto and a Masters in Technology and Social Change from Lund University, Sweden.