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First Quantum's $6.3 billion Panama copper mine comes on stream

Friday, February 15, 2019


Panama is a nation of major development projects, and none is bigger -- save for the Canal itself -- than Cobre Panama. The new copper mine is one of the largest in the world of its type, and processed mineral this week for the first time.

The owners of the mine, Canada's First Quantum, have invested $6.3 billion. But their gamble faces a challenge as prices of copper slide worldwide.

Once fully in production in 2021, Cobre Panama is expected to make Vancouver-based First Quantum one of the world's leading copper producers.