https://www.theglobeandmail.com/
Canadian copper miner First Quantum Minerals Ltd. has agreed to drop or suspend its arbitration claims against Panama, opening the door to a resolution that could see its giant operations in the country eventually reopen.
Vancouver-based First Quantum in late 2023 filed international arbitration proceedings against Panama around the time then-president Laurentino Cortizo ordered the shutdown of its Cobre Panama mine. Mr. Cortizo took the drastic step after Panama’s Supreme Court ruled that its mining contract was unconstitutional, and during massive public protests against the mine.
First Quantum now says that, after discussions with the government, it is dropping the case brought with the International Chamber of Commerce’s International Court of Arbitration and suspending its Canada-Panama Free Trade Agreement proceeding.
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