FQVLF - First Quantum Awaits General Elections In May Maintains Hope For Cobre Copper Mine | Benzinga
The Panamanian government’s decision to close Toronto-based First Quantum Minerals' (OTCPK: FQVLF) Cobre Panama copper mine in December marked a challenging period for the company amidst ongoing issues in Central America.
Panama and First Quantum initially negotiated a new contract for the mine’s operation. Despite reaching an agreement, environmental concerns sparked widespread protests.
The nation’s Supreme Court subsequently annulled the deal and closed the mine.
Per Bloomberg's report, on Monday, Panama's electoral court stated it can't organize a referendum regarding the mine.
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"At this moment, there are no conditions to organize the intended popular consultation," the electoral authority said, citing logistics and legal reasons.
Still, according to CEO Tristan Pascall, recent developments offer a glimmer of hope for First Quantum. The intensity of protests has diminished, potentially paving ...