Panama Considers Reopening Cobre Panama Mine as Opposition Grows

President José Raúl Mulino signals support for reopening the copper mine, citing economic benefits, while environmental and civic groups prepare protests against it.

• The Panamanian government has authorized the sale of $250 million worth of stored copper concentrate and restarted the mine's power plant, seen as steps toward reopening the mine.
• Cobre Panama accounted for 5% of Panama's GDP and 75% of its exports before its closure in 2023 following a Supreme Court ruling deeming its concession unconstitutional.
• President José Raúl Mulino has expressed willingness to negotiate with First Quantum Minerals to reopen the mine, citing its economic importance and potential to recover lost revenue and jobs.
• Environmental and civic groups strongly oppose the reopening, citing unfulfilled community promises and concerns about ecological damage, and are organizing public protests.
• The mine's operator, First Quantum Minerals, has suspended arbitration proceedings against Panama and expressed readiness to negotiate a resolution with the government.

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The Independent