Panama's Supreme Court Deems First Quantum Mining Contract Unconstitutional
The Supreme Court of Panama has declared the contract between First Quantum and the government unconstitutional, adding to the uncertainty surrounding the Cobre Panama mine. The ruling is expected to freeze First Quantum's operations in the country, impacting the copper market and the government's coffers. The decision may also lead to international arbitration. Massive protests against the contract have disrupted the delivery of supplies to the mine and garnered support from celebrities and activists. First Quantum is believed to have sufficient liquidity to weather the short-term storm, but an extended closure could pose financial challenges.