First Quantum stock jumps on Panama plans for mine audit

Analysts see the election result as a positive development for the Cobre Panama mine.

Panama on Sunday elected Jose Raul Mulino as its new president.

Lawmakers across different parties who backed a contract with First Quantum Minerals have faced a backlash that could hurt their support. 

The International Seabed Authority, which next meets in July, is hashing out the world’s first underwater mining code.

Barrick's gold production fell to 940,000 ounces in the quarter, but average realized gold prices rose to $2,075.

The US had requested a probe last year into alleged workers rights abuses at a Grupo Mexico mine in the central state of Zacatecas.

The company also edged up its forecasts for this year, predicting output of 949,000 tons.

The law was passed in November 2023 in response to the protests against First Quantum Minerals' new contract.

Earnings were lower copper, molybdenum and zinc prices.