First Quantum Minerals seeks $20B in arbitration from Panama over closed copper mine.
First Quantum Minerals is seeking US$20 billion from Panama in a free trade arbitration case after the Central American nation shut down the company's flagship copper mine late last year. The amount requested represents the "minimum value" sought by the Vancouver-based company in an arbitration process under a Canada-Panama free trade agreement. The move comes as the Canadian firm scrambles to shore up its balance sheet and avoid breaching debt agreements after Panama closed the company's biggest revenue-generating asset.
February 21, 2024
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