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First Quantum says Panama government will authorize ore removal at Cobre copper mine

  • The Canadian Press

  • Canadian Press

  • January 15, 2026

The open pit copper mine Cobre Panama, run by Panamanian Mining company Minera Panama, a subsidiary of Canada's First Quantum Minerals Ltd., is show in Donoso, Panama, Dec. 6, 2022. First Quantum Minerals Ltd. says it has started arbitration proceedings to protect its rights at its Cobre Panama mine which has been the subject of environmental protests. THE CANADIAN PRESS/AP-Abraham Teran

TORONTO -- First Quantum Minerals Ltd. says the government of Panama will authorize the removal and processing of certain materials at the Cobre Panama copper mine.

The Toronto-based miner says it is awaiting formal approval to carry out the activities in co-ordination with the government of Panama.

First Quantum CEO Tristan Pascall says in a release that the move marks a positive step, but that it does not constitute a reopening of the mine.

Pascall says First Quantum remains committed to dialogue to achieve a resolution at the Cobre mine.

The company says the processing of ore stockpiles at the mine will mitigate environmental and operational risks associated with acid rock drainage.

In July of last year, First Quantum Minerals announced that shipments of copper concentrate had begun leaving the contentious mine in Panama that had been shuttered.

This report by was first published Jan. 15, 2026.

Companies in this story: (TSX:FM)