Works Start at Cobre Panama Mine

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.

Friday, May 29, 2015

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.

The manager of the power plant, John Eastwood told that "... 'The' jetty '(breakwater) will be the first part to be completed and will be ready by the end of 2016' ....He added that "... 'In the first quarter of 2017 we hope to have in operation the first component of 150 megawatts of the power plant."

"... Minera Panama's contract with the Panamanian government which has been in place since 1997, has a duration of 60 years and establishes revisions to its provisions every 20 years. "

More on this topic

Problems in Mining Project

March 2018

The protests which since the beginning of the year have been held by workers in the Cobre Panama project in Colón have paralyzed work on the power line and the 300 MW thermoelectric plant.

The labor dispute that has prevented the project from progressing arose after both parties, the workers' union and the company Minera Panamá, accused each other of not complying with some points of the agreement made between them in January, with intermediation on the part of the Ministry of Labor.

Operations at Cobre Panama Mining Project Normalized

July 2014

The company Minera Panama has made an agreement to resume construction work at the mine after reaching an agreement with workers over working schedules.

After construction stopped in the Cobre Panama mine project on June 27, due to a labor dispute with workers of the project, the company First Quantum Minerals has said it has reached an agreement to resume work.

Cobre Panama Mine Ceases Operations

June 2014

First Quantum has announced that operations at the mine in Panama have temporarily stopped due to an illegal work strike by the employees involved in the project.

From a press release issued by First Quantum Minerals Ltd.:

"First Quantum Minerals Ltd. ("First Quantum" or "the Company") (TSX: FM) (LSE: FQM) today announced that activity has stopped the in the Cobre Panama project due to an illegal work strike by some members of the workforce.

Korean Consortium to Develop Copper Mine in Panama

January 2012

A consortium made up of the state company Kores and LS-Nikko Cobre Inc. has announced the start of the operations in the Cobre Panama mining project in the first half of the year.

The announcement by state-run Korea Resources Corporation comes a few days after the approval by Panama’s National Environmental Authority, of the development plans for the mines in the Cobre Panama project.