Canada's trade minister has been in contact with her counterpart in Panama in an effort to resolve a dispute over future payments First Quantum Minerals Ltd. must make to operate its flagship copper mine in the country, a government source said on Friday.
Canada's International Trade Minister Mary Ng speaks during Question Period in the House of Commons on Parliament Hill in Ottawa, Ontario, Canada November 29, 2021. REUTERS/Blair Gable
"Obviously, we have a keen interest in seeing resolution to this, and are optimistic that both parties are negotiating in good faith," said the source, who is familiar with the discussions. "We have also heard from to ensure that Minister Ng and our team stays engaged in keeping this on the front burner," said the source, who was not authorized to speak on the record.
First Quantum reported revenue from Cobre Panama of $2.29 billion in the first nine months of this year. It shares the joint venture with Korea Panama Mining Corp , which holds a 20% stake.
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