Suite du post au dessus.
Cobre Panama et le gouvernement du Panama finissent par trouver un accord.
Cobre Panama va donc raquer (se faire taxer) beaucoup plus pour sa mine de Cuivre au bénéfice des rentrées d'argent pour le Panama.
Panama and First Quantum agree on details for copper mine contract
Reuters | March 8, 2023 |
Panama’s government and Canada’s First Quantum Minerals agreed on the final text for a contract to operate a key copper mine, according to a statement signed by both parties Wednesday.
The new contract guarantees a minimum annual income of $375 million to the Central American government, and will be effective for 20 years with the option to renew for 20 more.
“With this contract, Panama expects to receive about ten times more than what it was getting” under the previous contract, the statement added.
The Canadian firm’s chief executive officer Tristan Pascall told Reuters he met with the Panamanian president after finalizing the text and ensured it guarantees “stable and durable” operations.
First Quantum paid $61 million in royalties to Panama’s government in 2021, while the Cobre Panama mine posted sales revenues of $3.2 billion for the year, company data showed.
Both parties agreed on all new economic terms, Pascall said in an interview.
The proposed concession contract is subject to a 30-day public consultation process and approvals by the Panamanian Cabinet, Comptroller General of the Republic and the National Assembly.
First Quantum suspended ore processing operations at the mine on February 23 after a government order halted its loading permissions at the port, limiting its capacity to store copper.
Panamanian authorities issued a resolution on Wednesday for First Quantum’ local subsidiary, Minera Panama, to resume concentrate loading operations, Pascall said, adding a ship will start loading within hours.
In 2021, Cobre Panama represented more than half of First Quantum’s earnings before interest, tax depreciation and amortization (EBITDA). It also accounts for about 3.5% of Panama’s gross domestic product.
First Quantum is working on bringing back the estimated 1,000 workers that were sent on leave while works were paused and expects to resume ore processing operations in the next few days.
https://www.mining.com/web/panama-and-f ... -contract/
et 3 jours plus tard l'autorisation d'opérer à nouveau le terminal d'exportation est donnée :
Panama gives First Quantum go-ahead to operate port terminal
Reuters | March 11, 2023 | 6:25 pm Intelligence Top Companies Latin America Mexico and Central America Copper
Panama’s Maritime Authority has lifted a suspension on First Quantum Minerals’ operations at the port of Punta Rincon, which the Canadian company uses to export copper concentrate from its key Cobre Panama mine, company sources said late on Friday.
Two spokespersons for Minera Panama, First Quantum’s Panama unit, told Reuters the suspension dated Jan. 26 had been ended, which was confirmed by a source at the Maritime Authority.
The company, which spent weeks at loggerheads with Panama over Cobre Panama, had said that once the suspension ended, it would be able to resume activity at the port quickly.
The Panamanian government and First Quantum said on Wednesday they had agreed on the final text for a new contract on the operations of Cobre Panama, which accounts for about 3.5% of the country’s gross domestic product.
Because it could not work at Punta Rincon, First Quantum halted ore processing operations on Feb. 23 after reaching the maximum storage level of copper concentrate – about 10,000 tonnes – at the mine in Panama’s Donoso district.
About 60% of the copper concentrate exported through Punta Rincon is destined for factories in China. The rest is exported to other markets including Spain and Germany.
https://www.mining.com/web/panama-gives ... -terminal/
