First Quantum Minerals Ltd. is currently embroiled in a challenging dispute with Panama over a stranded copper ore stockpile valued between $225 million and $340 million at the Cobre Panamá mine. The 120,000 metric tons of semi-processed copper remains untouched due to a governmental decision to close the mine, leading to potential devaluation and environmental risks. First Quantum demands either the export of the copper or financial compensation based on current market prices to resolve the stalemate.
This claim is part of two broader arbitration cases under the Canada-Panama Free Trade Agreement, seeking at least $20 billion in compensation for the mine’s shutdown sparked by public protests. The company, facing financial losses, has pressed for justice through the International Chamber of Commerce. While Panama’s Ministry of Commerce remains silent, the legal battle is set to continue with a final hearing in September 2025. Other industry players have also launched arbitration claims, underscoring the widespread impact of the dispute on the mining sector.
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