Cobre Panamá may process stockpiled ore—not a full mine reopen

On 7 April 2026, Panama formally authorized First Quantum to remove, process, and export about 38 million tonnes of stockpiled ore (roughly 70,000 tonnes of recoverable copper) under state supervision. The green light is explicitly without new drilling, blasting, or a full operations restart.

Officials frame it as environmental and safety care—managing acid-drainage risk—plus care-and-maintenance work. Capex is estimated around US$250 million, with workforce heading toward about 3,000. Before the 2023 court-driven shutdown, the mine was roughly 5% of GDP.

For long-stay residents and businesses, this is a fiscal and political signal about Panama’s second-largest revenue engine—and a possible flashpoint for future protests. Processing stockpiles is not the same as reopening the mine.

Sources

• Reuters — stockpile processing authorized
• First Quantum — NR 26-11 PDF

Disclaimer: Authorization to process stockpiles is not a full mine reopen.