Panama: Canada's First Quantum sends notification of intent to start arbitration proceedings against the State
"First Quantum warns of arbitration as Panama weighs copper contract", 26 November 2023
...Canada's First Quantum intends to start arbitration against Panama, the Central American nation's trade ministry and the company said on Sunday, as Panama's top court considers annulling a copper contract that opponents call unfair...
A spokesperson for First Quantum confirmed to Reuters the company sent one notification of intent to start arbitration proceedings.
Panama's trade ministry said in a statement that First Quantum, the miner's local unit Minera Panama and Franco-Nevada Corp sent two notifications to an international arbitration center, adding it was ready to defend the country's interests. Arbitration is a way of resolving disputes by an impartial person or panel deciding the outcome.
Challenges against the contract's validity have piled up in Panama's top court, which on Friday started deliberations to rule on several constitutional challenges to it and is expected to issue a ruling in the coming days...