“The corporate is executing this motion with out assist from the employees which might be nonetheless there to maintain the challenge afloat,” union chief Michael Camacho stated in a textual content message Tuesday.
The choice might put some strain on the brand new administration of President Jose Raul Mulino as authorities evaluation First Quantum’s plan to safeguard the positioning. Mulino has floated the potential of reopening the mine for an unknown interval to cowl the price of a everlasting closure.
As a precursor to these talks, Mulino has requested the corporate to drop arbitration proceedings in opposition to Panama. First Quantum stated it spent $115 million on care and upkeep on the web site from January to June. Panamanian authorities have set the shutdown value at $800 million.
Mulino’s predecessor ordered the shutdown of the Cobre Panama mine final 12 months after weeks of public protests culminated within the nation’s prime courtroom ruling that First Quantum’s contract was unconstitutional.
(By Valentine Hilaire and Jacob Lorinc)