Panama: Supreme Court declares Canadian miner First Quantum's contract to operate copper mine unconstitutional
Summary
Date Reported: 30 Oct 2023
Location: Panama
Companies
First Quantum Minerals - Parent Company , Minera Panamá (part of First Quantum Minerals) - SubsidiaryProjects
Cobre PanamaAffected
Total individuals affected: Number unknown
Ecosystem: ( Number unknown - Panama - Sector unknown , Gender not reported )Issues
Clean, Healthy & Sustainable Environment , Impact on notable or protected areas , Impact Assessment , Insufficient/inadequate consultation , ProtestsResponse
Response sought: No
Source type: Regulatory action
"Top Panama court rules First Quantum mining contract unconstitutional", 28 November 2023
...Canadian miner First Quantum's contract to operate a lucrative copper mine in Panama is unconstitutional, Panama's Supreme Court declared on Tuesday following weeks of protests against the deal.
Challenges against the company's new contract, which was approved on Oct. 20, piled up in court amid public anger over the deal, which opponents regard as too generous.
"We have decided to unanimously declare unconstitutional the entire law 406 of October 20, 2023," said Supreme Court President Maria Eugenia Lopez.
The contested contract gave First Quantum a 20-year mining right with an option to extend for another 20 years, in return for $375 million in annual revenue to Panama.
The company did not immediately reply to a request for comment...