Panama’s President Jose Raul Mulino flew over the nation’s flagship copper mine this week, getting a good look at the idled project — and raising investor hopes for a restart of the US$10 billion operation.
It was a “truly impressive” sight, Mulino told reporters in Panama City on Thursday as he vowed to explore “novel ideas” for the mine ordered shut in late-2023 after an eruption of environmental protests and political turmoil.
The president’s comments following his return flight from an unrelated trip along with a renewed campaign by mine owner First Quantum Minerals Ltd. hint at a possible new start for the venture, whose closure shook the copper world and hurt the Central American nation’s economy. First Quantum’s shares and Panama’s sovereign bonds both rallied this week.
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