Shares in First Quantum Minerals fell 17% on Tuesday, adding to the previous day’s steep fall, as the uncertainty over the future of its key Panama copper mine encouraged investors to cut their exposure.to decide whether to scrap a contract with First Quantum’s local unit following days of protests by thousands of people opposed to the open pit copper mine project.
“First Quantum has always been an advocate of Panama and its people and is committed to the rule of law with the objective to achieve benefits the country,” the company said in the statement. First Quantum said last week the enactment of Law 406 marks the final step in revising the legal framework for the Cobre Panama mine.Panama electoral court says it can’t hold a mine referendum