Panamanian officials and the operator of the giant Cobre Panamá copper mine are back at the negotiating table after a hiatus of more than a week.
and that it’s committed to finding a mutually beneficial accord as soon as possible. The Commerce Ministry said Tuesday it’s “open to holding a frank, respectful dialogue that can lead to a resolution of this issue.”The positive tone struck by both sides contrasts with events in recent weeks when the collapse of earlier negotiations prompted Panama to initiate a halt to production at the mine. That in turn spurred First Quantum to take steps toward international arbitration.
For now, the open-pit mine is running normally since Panama gave the company 10 business days to come up with a plan for putting it on care and maintenance. Some analysts regard the order as a negotiating tactic, as the government seeks much more favourable terms than the current mining concession offers. Still, the authorities have vowed to press on with the stoppage process.
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