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First Quantum Minerals about to commission copper project in Panama

CHARLOTTE DIVET - CONTRIBUTING EDITOR, LE 22 MAI 2017

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First Quantum Minerals about to commission copper project in Panama

The Canadian growing metals and mining company has announced, on May 17, that the Latin American Cobre Panama open-pit mine is now half completed.

Located in the Donoso District, Colon Province in north central Panama, the concession for the project covers 13,600 hectares.

First Quantum Minerals which owns an 80% equity interest in Minera Panama SA, the Panamanian company that holds the concession, manages the $5.48bn copper project that is expected to reach 320,000 tons capacity every year from 2019.

Almost $1bn is to be spent this year by the Canadian company to advance construction at the project. First Quantum Minerals is already planning to invest $830 million more next year and a further $110 million in 2019.

The project has allowed to create 7,000 jobs for the construction phase and is to employ 2,500 workers once operational.

Image credit - First Quantum Minerals Ltd

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