First Quantum gets green light for Cobre Panama


News from Panama / Monday, July 13th, 2020

First Quantum Minerals (TSX:FM) said yesterday that Cobre Panama can resume full production.

The Panamanian government gave the company permission to start up after the copper mine suspended operation due to COVID-19 health restrictions.

The mine has 800 workers. Full ramp-up is expected by mid-August. The company said no cases of COVID-19 have been detected on the Cobre Panama site since April 30, 2020.

“The lifting of the suspension order is testament to the hard work from each and every person on the site, working away from their families over the past weeks,” said Gordon White, General Manager of the mine in a news release. “Cobre Panama has received support from the employee union UTRAMIPA, the local business community, and from the Government of Panama to reach this milestone. We are especially grateful to the dedicated health professionals in the country who have been working to resolve the wider pandemic in Panama, whose efforts we will continue to support.”

In 2019 First Quantum’s Cobre Panama produced 147,480 tonnes of copper and 60,074 ounces of gold.

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