Cobre Panama copper ramp-up 'slower' amid pandemic protocols, First Quantum says

The ramping-up of copper production at First Quantum Minerals’ Cobre Panama project may be slower than expected, with output in the first half of this year likely to be affected by the health protocols designed to prevent the spread of the 2019-nCoV coronavirus pandemic.

Cobre Panama, the only major greenfield project in the copper industry, has been specifically authorized by the government of Panama to continue operating, although with a reduced labor force operating on 12-hour shifts.
Several members of the contractor’s workforce have been confirmed as having contracted the virus and are being cared for.
“Cobre Panama continues to ramp-up, and expectations for 2020 copper production remain unchanged at 285,000-310,000 tonnes,” First Quantum said.
“However, as a result of the implementation of the health protocols at the operation, the pace of the ramp-up may be slightly slower than originally planned, and this will affect first-half production,” it added.

“At this stage, it is expected that the annual production expectation can still be met with better-than-planned second-half production levels. The Punta Rincon international port at Cobre Panama remains open for imports and exports,” it...


Andrea Hotter

March 24, 2020

15:10 GMT

New York