First Quantum Opens Cobre Panama to Public in Bid for Restart Support
First Quantum Minerals (TSX: FM) officially opened Cobre Panama to visitors on Monday as part of its efforts to regain public support for restarting the $10 billion copper mine, which has remained shut for over a year.
In a press release, Cobre Panama announced the launch of its Mine Visit program, granting the public access to one of Latin America’s most advanced copper mining operations.
Guided by Panamanian engineers and miners, visitors can tour key facilities, including the Botija pit, the 300 MW power plant, the international port, and the tailings management facility.
Each stop highlights how the mine operated before its closure and the ongoing preservation and safety measures in place.
“This is a true transparency experience. We’re showing how modern mining works from the inside, so Panamanians can see it with their own eyes,” said Maru Galvez, public relations manager at Cobre Panama.
The initiative follows positive feedback from public dialogues, where many Panamanians expressed interest in visiting the mine. According to company surveys, 58% of respondents want to see the site firsthand to verify media reports.
The tour encourages open discussions, allowing visitors to ask questions and engage directly with Panamanian experts.
The Mine Visit program is part of First Quantum’s broader effort to build public backing for Cobre Panama, which was shut down in December 2023 following protests over environmental concerns.
“In order to get an operational license, we need to have a social license,” Galvez previously stated, emphasizing the importance of addressing public concerns.
By March 2024, First Quantum had signed up approximately 1,000 visitors for mine tours, hoping to demonstrate its economic and operational significance. Before its closure, Cobre Panama contributed around 5% of Panama’s GDP and 1.5% of the world’s copper supply.
The future of the mine remains uncertain. Panama’s newly elected president, Jose Raul Mulino, has indicated a willingness to discuss its fate, but only if First Quantum withdraws its arbitration case against the country.
Shares of First Quantum rose 1.4% by midday, trading at C$22.78—just C$0.50 below its 52-week high. The company currently holds a market capitalization of C$18.9 billion.
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