{"id":26236,"date":"2019-06-11T10:11:41","date_gmt":"2019-06-11T15:11:41","guid":{"rendered":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=26236"},"modified":"2019-06-11T10:12:47","modified_gmt":"2019-06-11T15:12:47","slug":"first-quantum-says-complied-rules-panama-mining-contract","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/first-quantum-says-complied-rules-panama-mining-contract\/","title":{"rendered":"First Quantum says it has complied with all rules in Panama mining contract"},"content":{"rendered":"

\"\"<\/a><\/p>\n

Canadian miner First Quantum Minerals said on Wednesday it had \u201cfully complied\u201d with local rules in operating Cobre Panama, one of the region\u2019s largest copper mines, after Panama\u2019s president-elect said he would review the company\u2019s contract.<\/p>\n

Laurentino Cortizo, who takes office in July, said on Tuesday that the government was entitled to go over the contract \u201cclause by clause.\u201d<\/p>\n

First Quantum vowed to collaborate with Panamanian officials.<\/p>\n

\u201cWe will gladly share all relevant documentation related to the extension of the contract,\u201d the company said in a statement. \u201cWe do this with the conviction that the Cobre Panama project, which employs more than 9,000 Panamanian employees during its current construction phase, can then proceed without any additional legal uncertainty.\u201d<\/p>\n

The project has attracted $6.3 billion in foreign direct investment, First Quantum said.<\/p>\n

<\/div>\n

The Toronto-based company owns 90 percent of Minera Panama, which was awarded the concession for the Cobre Panama project in 1997. But the country\u2019s Supreme Court of Justice declared the underlying law unconstitutional last year.<\/p>\n

Cortizo\u2019s remarks came days after the national assembly rejected a bill that sought to reaffirm Minera Panama\u2019s contract, with legislators arguing that the royalties are too low and the issue should be decided by the incoming government.<\/p>\n

<\/div>\n

Source: Reuters
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    Canadian miner First Quantum Minerals said on Wednesday it had \u201cfully complied\u201d with local rules in operating Cobre<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[242,12,241,39,248,34,33,62,42,219,11,249,243,7,255,246,244,44],"class_list":["post-26236","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective","tag-boca-chica-real-estate","tag-boquete","tag-boquete-real-estate","tag-buenaventura","tag-casco","tag-casco-antiguo","tag-casco-viejo","tag-coffee-in-panama","tag-estate-homes-in-panama","tag-move-to-panama","tag-offshore-real-estate","tag-panama-offshore-real-estate","tag-panama-papers","tag-panama-real-estate","tag-panama-real-estate-bocas-del-toro","tag-relocate-to-panama","tag-rum-in-panama","tag-travel-to-panama"],"yoast_head":"\nFirst Quantum says it has 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