Commodities
First Quantum Is Close to Panama Copper Mine Deal, CEO Says
- Miner ready to agree with Panama demand on $375 million in tax
- Firm is submitting appeal to keep Panama from shutting mine
This article is for subscribers only.
First Quantum Minerals Ltd. is close to striking a deal with Panama’s government on a massive copper mine in the Central American country after reporting progress on resolving tax and royalty terms for the project.
“I don’t think we’re very far away,” Chief Executive Officer Tristan Pascall said in a Tuesday call with analysts to give an update on the status of negotiations. “There has been progress and movements since Dec. 14 and these final items do need to be resolved, but they do need to be resolved fairly for us to close this out.”