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First Quantum adds 1,000 jobs as Cobre Panama restart nears
['Cecilia Jamasmie']
MINING.COM
First Quantum Minerals (TSX: FM) has stepped up preparations to restart its Cobre Panama mine by beginning stockpile processing ahead of schedule and adding about 1,000 jobs.
The Canadian miner said formal negotiations with Panama over the future of one of the world’s largest copper mines are drawing closer.
First Quantum commissioned the first of three milling circuits in May, producing its first 3,216 tonnes of copper concentrate from stockpiled ore during the quarter.
Pascall told analysts on the company’s conference call the increase represents about 1,000 jobs overall, including returning employees and new hires.
First Quantum has also suspended its $20 billion arbitration claim against Panama while discussions over the mine’s future continue.