Toronto (Canada), November 28 (EFECOM).- First Quantum Minerals (FQM) warned on Tuesday that it was forced to suspend “commercial operations” of the controversial Cobre Panama mine following the protests taking place in Central America. country. .

The Canadian mining company's announcement comes on the same day that it was learned that the Supreme Court of Panama would declare “unconstitutional” the contract that renewed the concession to FQM for the exploitation of Cobre Panamá, the largest copper mine in open skies of Central America.

In a statement, the FQM acknowledged the decision and said it would “review” its content.

At the same time, the Canadian mining company assured that “due to the illegal blockages in the port of Punta Rincón and on the roads of the site, the Cobre Panamá mine has suspended its commercial production and is implementing a preservation and safety maintenance”.

“The safety of Cobre Panamá staff remains a priority for the company,” added the FQM.

At the same time, on the Toronto Stock Exchange, FQM shares closed with a loss of 0.78% at 12.64 Canadian dollars (around 8.47 euros).

Since October 27, a few days before the Panamanian government announced a referendum on the operation of Cobre Panamá, FQM shares have lost 15.32 Canadian dollars, or more than half their value.

Since April 1, 2022, when shares hit their all-time high of C$44.42, the Canadian mining company's stock value has fallen 71.5%.

The approval of Law 406, which renewed the exploitation of Cobre Panamá for the FQM and which was declared unconstitutional this Tuesday, caused a serious political crisis in this Central American country with intense protests that made four dead, blocked roads and provoked strikes in different places. sectors. EFECOM

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