First Quantum Minerals Wants to Sell Copper

First Quantum Minerals Ltd. is hoping to obtain authorization from Panamanian authorities in the coming weeks to sell more than 120,000 metric tons of copper concentrate stored near a Minera Panama port.  The sale of semi-processed metal stocks could generate between $200 million and $300 million, depending on current copper prices.  Meanwhile, the Government of Panama recommended that First Quantum establish financial guarantees to cover the costs of closing its copper deposit.  The ministry also noted in the statement that the mining company should explain the estimated monthly costs to maintain the mine in preservation mode “in as much detail as possible.”