Panama Supreme Court to decide First Quantum’s contract fate
Modified law, however, will ban all future mining concessions, including exploration, extraction and transportation of minerals, as well as contract renewals in Panama.
China buys about half of Codelco's production and also accounts for about half of global copper consumption, which analysts estimate will be around 25 million tonnes this year.
The Chilean state-owned company recently signed some contracts for three to five years with customers in Europe, in contrast to the more standard annual deals.
Such demand could be met by local companies as long as they ramp up the production of green fuels and their manufacturing capabilities when it comes to electrifying mining fleets.