CEO Tristan Pascall said First Quantum is prepared to agree to the objectives that the Panamanian government outlined in January 2022 related to revenues, environmental protections and labour standards
said Tuesday it will submit an appeal by the end of the day against Panama’s order to halt operations at the firm’s local copper mine in the midst of a contract dispute.
The Panamanian government and the Canadian miner have been at odds for more than a year over a new deal in which the Central American government aims to raise annual mining royalties to a minimum of $375-million. Speaking at an investor call on Tuesday, the firm’s CEO Tristan Pascall also said First Quantum is prepared to agree to, and in part exceed, the objectives that the government outlined in January 2022 related to revenues, environmental protections and labour standards.
Among the sticking points in the negotiations are issues including legal protection against expropriation and early termination, as well as the long-term stability of the contract and royalties, Pascall added.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
First Quantum could suspend jobs in Panama due to gov’t order over labor disputeFirst Quantum, Panama government have been at odds for more than a year over payments to the government, contract stability and the area of the company’s operations
Read more »
Canada's First Quantum could suspend Panama jobs due to government order to halt operationsPANAMA CITY — Canada\u002Dbased miner First Quantum would suspend a “significant amount” of jobs at its operations in Panama if the Central American government…
Read more »
First Quantum could suspend Panama jobs due to gov't order to halt operationsCanada-based miner First Quantum would suspend a 'significant amount' of jobs at its operations in Panama if the Central American government forces it to halt operations during a contract dispute, the company said in a letter. 'If we have to reduce operations to care and maintenance mode, the company will need to take steps to reduce expenditure across the business. We could be forced to suspend a significant amount of our valued workforce,' the letter sent to employees and seen by Reuters said.
Read more »
The Daily Chase: Central bankers discuss economic risks; First Quantum makes headway in Panama - BNN BloombergWe're turning our attention to Stockholm, as one does, with a parade of central bankers taking to the stage at the Sveriges Riksbank International Symposium on Central Bank Independence.
Read more »
First Quantum to pay US$375-million in taxes to Panama for 2022, tensions remain over fiscal rules 2026 onwardsCanada’s biggest copper company had been in talks with Panama for more than a year as they worked to hammer out a new pact on royalties on the Cobre Panama mine
Read more »
South Africa’s Eskom says police investigating alleged poisoning of CEOEskom’s outgoing CEO resigned Dec. 14 after failing to solve a crisis in Eskom that has led to record power cuts in Africa’s most industrialized economy
Read more »