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$375M Invest in Panama by Canadian copper miner

Author: Source: Date: 2019-05-06 16:45:13

$375M Invest in Panama by Canadian copper miner

 canadian miner

According to what was published by Jaroslaw Adamowski - 04 Apr 2019 in miningmetalnews.com, a plan has been announced that $375million will be invested to expand its Cobre Panama copper project by Canada’s First Quantum Minerals.

The company’s updated technical report for the Panama-based mine "incorporates updates with respect to ramp-up and commissioning of the current operation and provides detail on the expansion of the pro-ject from 85 million tonnes per year … to 100 Mtpa starting in 2023," First Quantum Minerals said in a statement. The project "is expected to increase average production levels to over 375,000 tonnes of con-tained copper per year after year 5"

Set up in 1983, the Canadian miner runs operations in Zambia, Mau-ritania, Spain, Finland, Australia, Turkey, and Panama. In 2017,
the company reported production of 573,963 tonnes of copper, 199,736 oz of gold, and 17,837 tonnes of nickel, according to data released by First Quantum Minerals.

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