Panama is weighing a state-owned mining company to partner with First Quantum and reopen the US$10 billion Cobre Panama copper mine, with a decision expected by year-end.
Resource Nationalism & Investment Strategy
Key Facts
—State-owned proposal. Panama is considering creating a state mining company to hold the Cobre Panama concession and partner with First Quantum.
—Ownership split. One model gives First Quantum a 60–65% stake and Panama 35–40%, with the concession owned by the state.
—Lease alternative. A second option would lease the mine to First Quantum, with Panama collecting royalties and tax revenue.
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