Canadian mining company First Quantum Minerals has recommenced the export of stockpiled copper concentrate from its Cobre Panama mine, after Panama’s top court ordered the operation’s suspension in autumn 2023, as reported by Bloomberg.
On 18 June 2025, a bulk carrier set sail from Punto Rincon, the mine’s dedicated port, carrying concentrate bound for the European smelter Aurubis.
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The shipment follows the Panamanian government’s approval in May, allowing First Quantum to export 120,000 tonnes (t) of stranded copper concentrate.
Sales revenue will support the ongoing maintenance of the idled facility as the company advocates for the restart of mining activities.
First Quantum has been maintaining the Cobre Panama site in a state of preservation and safe management since production ceased in November 2023 when its license was deemed unconstitutional. The company is focused on managing the mine safely and responsibly.
The transition to this phase occurred after a request from the Panamanian government in response to the Supreme Court’s ruling.
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By GlobalDataCobre Panama is among the world’s largest newly opened copper mines in the last decade, with three billion tonnes of proven and probable reserves.
Situated in Colon Province, 120km west of Panama City, the mining complex comprises two open pits, a processing facility, a 300MW power station and an international port.
The mine is a significant investment in Panama, amounting to $10bn – 12% of the nation’s GDP.
In April 2025, Panama’s President Jose Raul Mulino announced that the government will not introduce a new mining contract law to settle the ongoing Cobre Panama mine dispute, leaving stakeholders uncertain about the future of the mine.
