30 June | Other

First Quantum started shipping stockpiled copper from stalled mine in Panama

First Quantum started shipping stockpiled copper from stalled mine in Panama

As reported by Bloomberg, First Quantum Minerals has started shipping stockpiled copper from its Panama mine, nearly 19 months after operations were halted by a court order.

The bulk carrier Lipsi, with a capacity of around 35,000 tons, left First Quantum’s private Punta Rincon port on June 18 loaded with copper concentrate. According to the news agency and anonymous sources, the cargo is destined for European metals giant Aurubis. The remaining stockpiles are expected to be shipped to partners in Japan and South Korea in the coming months.

Panama’s government has authorized the export of 120,000 tons of copper concentrate stockpiled before First Quantum’s mining license was revoked in late 2023. Revenues from the sales will help sustain operations as the company negotiates a potential restart. Panamanian President Jose Raul Mulino acknowledged such a possibility, but cautioned that both sides are only at the early stages of what could be lengthy and complex talks.

Anton Volkov MarketCheese
Period: 05.09.2025 Expectation: 900 pips
AUDCAD loses momentum near channel resistance
29 August 2025 41
Period: 05.09.2025 Expectation: 900 pips
Inverse head and shoulders pattern to form upon GBPUSD break of 1.358
29 August 2025 50
Period: 30.11.2025 Expectation: 2800 pips
USDJPY set to weaken in medium term
29 August 2025 28
Brent sell
Period: 05.09.2025 Expectation: 200 pips
Brent declines amid growing inventories and potential production increases
29 August 2025 51
Period: 05.09.2025 Expectation: 600 pips
Buying USDCAD on divergent data from US and Canada
29 August 2025 25
Period: 30.11.2025 Expectation: 3000 pips
Tesla shares to get boost on breaking $370
28 August 2025 49
Go to forecasts