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Locals worry about the mine’s effects on drinking water and the Panama Canal, already driven by El Niño to its driest October since 1950. , allowing the Canadian miner to keep operating a giant copper mine.
After 10 months of negotiations between the parties, the country inked in October a multi-billion dollar deal with the miner, letting it operate its flagship Cobre Panama copper mine in the country for the next 20 years.Parliament has already buried Cortizo’s bill 1109, which called for a nation-wide plebiscite on Dec. 17. Lawmakers are now debating bill 1110, which revokes the law that granted First Quantum a contract extension.
Shares in First Quantum fell more than 50% this week between Monday and Wednesday close in Toronto, but were trading 6.4% higher to C$11.4 by midday Thursday.
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