Copper Mine Begins Exporting

In Panama, the Canadian company First Quantum, owner of the copper mine in the province of Colon, sent the first vessel with 31,200 tons of copper.

Friday, June 14, 2019

The Panamanian mine whose construction began in 2013 and demanded about $6.3 billion investment, expects to export 320 thousand tons of copper concentrate per year, announced from the beginning of the year that in June would begin to export its product.

You may be interested in “Copper Wire: Purchases up to September 2018

From the First Quantum statement:

Punta Rincón, Colon, June 14, 2019. Hundreds of Panamanian workers, authorities and members of neighboring communities proudly left the port of Punta Rincon, Province of Colon, the Panamanian flag ship that carries the first 31,200 tons of copper concentrate, marking the beginning of exports of this mineral from Panamanian lands.

The export marks the second milestone of the entry into operations of the only Panamanian world-class mine; the first was the celebration of the first milling on February 18.

"Copper is the Future. This copper, 100% Panamanian, will contribute to the world reaching the sustainability required by providing the necessary material for the generation of clean energy; but it also represents the opportunity to offer a future full of opportunities to neighboring communities, to our collaborators and to Panama" said Tristan Pascall, General Manager of Cobre Panama.

Read full statement (In Spanish).

¿Busca soluciones de inteligencia comercial para su empresa?

More on this topic

Copper: Mine Prepares for Export

February 2019

Canada's First Quantum, owner of the copper mine in the province of Colon, Panama, plans to begin exports by the middle of this year.

The Panamanian mine, whose construction began in 2013 and demanded a $6.3 billion investment, expects to export 320,000 tons of copper concentrated per year.

Optimism in the Mining Sector

December 2018

In Panama, activities related to mining are expected to increase by more than 10% in 2019, a growth that would be mainly due to copper extraction.

According to the Panamanian government, it is estimated that the economic activity of mining and quarrying will increase over 10% in 2019, as copper exports would exceed $2 billion per year.

Minera Panama's Concession Renewed

August 2017

The Varela administration has extended the concession authorizing Minera Panama to extract copper from the mine at Donoso, in the province of Colón for a further 20 years.

The concession granted by the Ministry of Commerce and Industries is for an area of almost 13 thousand hectares, and will be in force until February 28, 2037.  

Works Start at Cobre Panama Mine

May 2015

The project consists of the construction, in the province of Colon, of a processing plant and a mine, from which it is expected that 320 thousand tons a year will be extracted from 2018.

In addition to the processing plant and the mine, a subsidiary of First Quantum Minerals, in charge of the work, is building a power 300 MW plant and and a port area, where the concentrate will be filtered and loaded for transport in ships.