Panama Greenlights Maintenance Plan for Copper Mine Amidst Environmental Concern

Panama approved a maintenance plan for First Quantum's copper mine, though it remains closed following protests over environmental concerns. Trade Minister Julio Molto emphasized the environmental safety measures being planned. Government and environment officials will oversee the process, with copper concentrate exports funding the plan.

Panama has granted approval for a maintenance plan submitted by First Quantum Minerals for its shuttered copper mine, a site closed since 2023 due to public protests over environmental concerns.

In a press statement, Trade and Industry Minister Julio Molto clarified that while the maintenance plan is greenlit for implementation, it is not equivalent to a reopening of the mine. Emphasizing the environmental safeguards included in the plan, Molto stated that the government aims to ensure environmental protection during this phase.

The funding for the plan will be sourced from the export of the mine's 121,000 metric ton copper concentrate. Both governmental and environmental bodies will closely supervise the process, ensuring the safe handling and export of stockpiled materials over the next three to six months.

(With inputs from agencies.)