Panama’s Cobre Panamá Copper Mine Mills Stockpile, Not a Restart
Panama has let First Quantum process ore already blasted before the 2023 shutdown. The mine is milling old rock, not reopening its pits. The post Panama’s Cobre Panamá Copper Mine Mills Stockpile, Not a Restart appeared first on The Rio Times .
Panama’s largest copper mine, Cobre Panamá, is currently not operational and remains legally shut down. The mine, owned by First Quantum Minerals, received a special resolution from Panama’s Ministry of Commerce and Industries allowing it to mill existing stockpiled ore from before the 2023 shutdown. This resolution does not indicate a reopening of mining operations; rather, it authorizes processing, exporting, and selling already blasted rock.
The Cobre Panamá mine holds roughly 38 million tonnes of mineralized rock in stockpiles, with an estimated 70,000 tonnes of recoverable copper. In 2025, First Quantum sold about 122,520 tonnes of copper concentrate, generating around US$334 million in revenue. In 2026, the company processed about 2.1 million tonnes of ore, recovering 3,216 tonnes of copper.
The mine's production capacity is estimated to support milling for about twelve months. First Quantum estimates that reopening the mine would require about US$250 million in capital, including commissioning, inventory build, and sustaining costs. The mine is situated in Donoso district, Colón province, and includes a 300-megawatt power station and deep-water berth.
Panama's Supreme Court ruled the mine's original concession contract unconstitutional in 2023, leading to the mine's shutdown and subsequent preservation and safe management program.
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