Cobre Panama Concession Contract Update; Panamanian Government's Intention To Hold A Popular Consultation On December 17 Concerning Law 406 That Recently Approved The Revised Contract For The Cobre Panama Mine
Portfolio Pulse from Benzinga Newsdesk
The Panamanian government intends to hold a popular consultation on December 17 regarding Law 406, which recently approved the revised contract for the Cobre Panama mine. Franco-Nevada Corporation (FNV) has been in communication with its partner, First Quantum Minerals Ltd., who has contacted the government to understand the details of the consultation. Legal and logistic considerations and unconstitutionality challenges against Law 406 have been noted.
October 31, 2023 | 12:18 pm
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Franco-Nevada Corporation (FNV) could be impacted by the outcome of the popular consultation on Law 406 in Panama, which concerns the revised contract for the Cobre Panama mine. The company is in communication with its partner, First Quantum Minerals Ltd., to understand the details of the consultation.
The outcome of the popular consultation on Law 406 in Panama could potentially impact the revised contract for the Cobre Panama mine, in which Franco-Nevada Corporation (FNV) has a stake. The company is actively communicating with its partner, First Quantum Minerals Ltd., to understand the details of the consultation. However, the impact on FNV's stock price in the short term is uncertain due to the ongoing nature of the situation and the potential legal and logistic considerations and unconstitutionality challenges against Law 406.
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