Open to close: Interministerial Commission opens the door to a negotiated restart of Cobre Panamá while key aspects remain uncertain

PANAMA - Report 30 Sep 2026 by Marco Fernandez and Jhonatan Astudillo

Panama's Interministerial Commission has recommended that President José Raúl Mulino authorize formal negotiations with Cobre Panamá and its parent company, First Quantum Minerals (FQM), to assess the feasibility of a new agreement. That agreement would serve two purposes: settling the pending international arbitrations and establishing the conditions for a restart of operations that would, in turn, enable an orderly closure of the mine. The commission's final report states that any such arrangement must carry no cost to the nation, allow no possibility of extension, and must give priority to Panama's environmental, social, and economic interests.

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