© Reuters. FILE PHOTO: View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris Martínez/File Photo
By Divya Rajagopal and Julian Luk
TORONTO/LONDON (Reuters) -Canada’s First Quantum Minerals (OTC:) will carry out maintenance at its Panama mine from Nov. 23 due to coal supplies being blocked by protestors opposing the government’s contract with one of the world’s biggest and newest mines, two sources familiar with the discussions said on Monday.
This move would effectively suspend production at the Cobre Panama mine until coal supplies resume as the mine cannot operate without power, one of the sources said. The sources declined to be identified as the information is not public.
Protests have escalated since the government and First Quantum (NASDAQ:) signed a new contract on Oct. 20 for Cobre Panama, which contributes 1% to global copper production and 5% to Panama’s gross domestic product.
A ship with supplies for the mine was unable to dock as local boats blocked off access to the key port, the company said on Friday.
An FQM spokesman declined to comment specifically on the Nov. 23 suspension.
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