First Quantum Minerals notes the announcement by the Supreme Court of Justice in Panama that it has declared Law 406 unconstitutional. “Law 406 approved the concession contract for the Cobre Panama mine on October 20, 2023. The Supreme Court has published its ruling and confirms that it intends to submit its ruling for publication in the Official Gazette immediately. The company is reviewing the ruling and continues to reserve all its local and international legal rights in regards to developments in Panama. Due to the continued illegal blockades at the Punta Rincon port and roads to the site, the Cobre Panama mine has suspended commercial production and is applying a program of Preservation and Safe Maintenance to ensure the compliance and environmental integrity of the site, preservation of the assets, and safe maintenance of the plant and facilities. The security and safety of the workforce at Cobre Panama remains a priority for the company,” First Quantum stated.
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