The meeting of CEO of Quantum with Minister of Commerce of Panama took place
2022.12.26 14:58
The meeting of CEO of Quantum with Minister of Commerce of Panama took place
Budrigannews.com – The head of the Canadian mining company First Quantum Minerals (OTC:) reportedly met with the minister of commerce and industry of Panama on Monday to discuss disagreements regarding the company’s operations in the country.
(NASDAQ:) First Quantum President Tristan Pascall traveled to Panama over Christmas to go to the gathering face to face with the clergyman, Federico Alfaro, as per the source, who said further discussions are arranged.
A request for comment was made, but the ministry of commerce and industry did not immediately respond.
A deal that would have brought the mining company’s annual tax payments to Panama to at least $375 million has been under discussion between the government and the mining company.
After they both missed a deadline to reach an agreement, the company was ordered to stop working at the Cobre Panama mine by the Panamanian government.
More Retail sales in U. S. increased due to holidays
Local authorities claim that the company initiated arbitration proceedings against the government days later.
Last week, a government official stated that the nation was seeking a “fair” deal.
According to government figures, the mine contributes roughly 3.5% of Panama’s gross domestic product.
