Gold production totalled 474,035 oz. during 2022., exceeding its guidance range of 430,000 to 470,000 oz.

For the year, the Mexico-focused silver miner outputted a record 10.3 million oz.

In the meantime, First Quantum said it is drawing up the maintenance plan for the mine to submit to government.

The Canadian miner said it would suspend jobs if forced to halt operations.

President Laurentino Cortizo said on Monday the government has presented a final contract to regulate operations.

First Quantum had notified the country about two arbitration proceedings days after the order to halt operations.

The Juanicipio mine represents Fresnillo's next major growth project.

First Quantum CEO Tristan Pascall flew to Panama over Christmas to attend the meeting in person with the minister, Federico Alfaro, Reuters sources say.