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PANAMA CITY, Dec 8 (Reuters) – Panama’s industry and ministry have ordered Canada’s First Quantum to end operations at its lucrative copper mine, the company’s unit in the country said on Friday.
The ministry sent the unit, Cobre Panama, a formal statement urging it to “cease extraction, processing, refining, transportation, export and sale activities” at the mine, Cobre Panama said in a statement.
It will also have to take steps to protect the facilities and prevent environmental damage to the site, the miner said.
The ministry did not respond to a request for comment.
The government’s move comes after Panama’s Supreme Court ruled last month that First Quantum’s contract to operate the mine was unconstitutional, following months of protests.
Mine Closure Could Lead Panama to
drastically scaled back its economic expansion in 2024
forecast, an official told Reuters last week. The Cobre Panama mine accounts for approximately 5% of Panama’s GDP.
Because it must close the mine, Cobre Panama said it has requested government authorization to lay off more than 4,000 of its employees.
“This measure will be developed in parallel to the voluntary retirement program presented through the corporation on December 3, with the call of the union (mine),” Cobre Panama said.
Last month, it suspended the contracts of 7,000 staff at the mine.
The mine’s union did not respond to a request for comment. (Reporting by Eli Moreno; writing by Kylie Madry; editing by David Goodman)