Exclusive-First Quantum to place Panama copper mine in maintenance mode-sources

By Divya Rajagopal and Julian Luk

TORONTO/LONDON (Reuters) – Canada’s First Quantum Minerals (OTC:) Ltd is considering putting its key Panama mine in care and maintenance mode from Nov. 23, two sources familiar with the discussions told Reuters on Monday.

The move comes as protesters opposed to the mining contract awarded to First Quantum (NASDAQ:) have blocked the shipments of coal that powers the Cobre Panama mine, the sources added. Cobre Panama is one of the newest and biggest copper mines in the world, accounting for about 1% of global production.

First Quantum did not respond to an email query by Reuters. Sources declined to be identified as the information is not public.