First Quantum Pulls Back From Arbitration on Panama Copper Mine

First Quantum Minerals Ltd. dropped one of its arbitration cases against Panama and suspended another, signaling potential for more negotiations with the nation over the company’s copper mine that’s been shuttered for more than a year.

The company said Monday it agreed to discontinue arbitration proceedings with the International Chamber of Commerce that sought compensation for Cobre Panama’s closure. It also said it has suspended arbitration filed under the Canada-Panama Free Trade Agreement.