Loading ...Panama and First Quantum (& FNV)
The shuttering of a single enterprise has hit Panama’s economic and fiscal prospects hard. It’s the $10 billion Cobre copper mine run by First Quantum Materials, which accounted for 5% of Panama’s GDP and 1.5% of the global copper supply. In December, the Supreme Court said the company’s contract — which it took over through a hostile takeover — was unconstitutional.