First Quantum to halt Panama mine if blockade goes on
The Canadian miner said that without shipments arriving at Cobre Panama copper mine’s port, it will run out of supplies this week.
The Canadian miner said that without shipments arriving at Cobre Panama copper mine’s port, it will run out of supplies this week.
The €3.50 per share offer represents a 6.71% premium based on Euro Ressources closing price on November 13.
Jim Justice, a wealthy coal mine owner now serving as West Virginia’s Republican governor, has gained an easier path for his US Senate bid.
The Chinese miner grew its interest in First Quantum to 18.5% from 18.3%, after buying a total of 1.35 million shares this week.
Barrick's $17 million investment in Hercules Silver grows its stake in the junior to about 12% from 2.7%.
Cobre Panama has not stopped producing copper despite recent protests and blockades, though it has faced disruptions.
Modified law, however, will ban all future mining concessions, including exploration, extraction and transportation of minerals, as well as contract renewals in Panama.
Vote on bill revoking the 20-year contract with First Quantum and halting all future mining concessions in Panama happening today.
Bill has cleared the first hurdle to becoming a law that allows national referendum on the contract covering Cobre Panama copper mine.
Richard Adkerson was the chief architect of the $26 billion “dream come true” purchase of Phelps Dodge in 2007, at the time the largest mining acquisition in history.