(Bloomberg) -- Panama’s finance chief sees no good reason why First Quantum Minerals Ltd. shouldn’t export the large volume of copper stockpiled at its shuttered mine in the country. Most Read from BloombergA 7,000-Year-Old City Emerges as a Haven from Dubai’s Sky-High RentsClimate Migrants Stand to Overwhelm World’s MegacitiesNew Rowhouses in London That Offer a Bridge to the 19th CenturyVanderbilt Leases Struggling NYC Seminary for Campus ExpansionNJ Transit, Amtrak Trains Delayed After Derail
TORONTO (Reuters) -Canadian miner First Quantum Minerals has opened a voluntary retirement scheme to workers at the Cobre Panama mine, two sources familiar with the matter said, as the company waits for a government decision on restarting the operation. The mine, one of the world's top sources of copper, was shut down in November, hours after Panama's Supreme Court declared its contract unconstitutional. Panama's new government led by President Jose Raul Mulino has said the mine is not on his government's agenda this year and he will take a decision on its future in early 2025.
First Quantum Minerals (FQVLF) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.