Canadian Miner First Quantum Minerals Shares Fall After Panama Government Announces Mining Contract Referendum

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Canadian Miner,First Quantum Minerals,Panama

Shares of Canadian miner First Quantum Minerals fell as much as 24.1% after the Panama government announced a referendum to decide whether to scrap a mining contract awarded to the company. The decision will be binding and comes after protests against First Quantum's open pit mine in Cobre Panama.

FILE PHOTO: View of the Cobre Panama mine, of Canadian First Quantum Minerals, in Donoso, Panama, December 6, 2022. REUTERS/Aris MartínezTORONTO - Shares of Canadian miner First Quantum Minerals fell as much as 24.1% on Monday after the Panama government said it will hold a referendum whether to scrap a mining contract that was awarded to the company earlier this month.

First Quantum was not immediately available for a comment. Cobre Panama represents nearly 5% of Panama's gross domestic product and 1.5% of global copper production according to RBC Capital markets estimates. Shani Louk, who was kidnapped from the Nova music festival during Hamas' October 7 terrorist attacks, has been confirmed dead, according to Israel's Ministry of Foreign Affairs.Israeli troops clashed with Hamas for the first time since the ground offensive began in an ambush from its network of tunnels in northern Gaza.As part of her photoshoot for Vogue Australia's November cover, Florence Pugh posed in a Valentino gown that had plunging sides showing she was commando.

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