Franco-Nevada Corporation In Communication With Partner First Quantum Minerals And Will Provide Updates After Supreme Court Of Panama That Law 406, The Law That Approved The Revised Concession Contract For The Cobre Panama Mine, Is Unconstitutional
Portfolio Pulse from Benzinga Newsdesk
The Supreme Court of Panama has ruled that Law 406, which approved the revised concession contract for the Cobre Panama mine, is unconstitutional. Franco-Nevada Corporation (FNV) is in communication with its partner First Quantum Minerals and will provide updates on the situation.
November 28, 2023 | 2:31 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Franco-Nevada Corporation's partnership with First Quantum Minerals may be affected by the Supreme Court of Panama's ruling against Law 406, potentially impacting the Cobre Panama mine operations.
The ruling against Law 406 by the Supreme Court of Panama creates legal uncertainty for the Cobre Panama mine, which is a significant asset for Franco-Nevada Corporation. This uncertainty could negatively affect the company's future revenue and operations in the short term, leading to potential downward pressure on the stock price.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 80