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First Quantum halts copper processing in Panama as dispute spirals
Canada’s First Quantum Minerals (TSX: FM) said on Thursday it had halted ore processing operations at its giant Cobre Panama copper mine, in the latest escalation of a dispute with Panama’s government over tax and royalty payments. Negotiations between the Toronto-based miner and the country’s government over a new contract for the mine turned sour in December, when the President announced a plan to halt the operation. The move, unusual among Latin American countries, came after the First Quantum missed a deadline to sign the new contract because it didn’t agree with the some of its terms. Talks have ... (full story)