Cobre Panama is the world’s 10th largest copper mine, producing over 3,000 metric tons of copper annually. Located in Panama’s Colón Province, the open-pit mine is operated by First Quantum Minerals, a Canadian-based mining company. Since its acquisition of Inmet Mining Corporation in 2013, First Quantum Minerals has invested hundreds of millions of dollars in developing the copper mine.
This major undertaking has resulted in a successful and positive experience for the local community due to job creation and infrastructure improvements. First Quantum Minerals has created more than 6,000 direct and indirect jobs in Cobre Panama. In addition, the amount of locally sourced materials purchased from local suppliers has risen significantly. This has helped to create a locally based supply chain, with materials and services provided primarily by businesses in the Colón Province.
Furthermore, since the extraction process is mainly done with machines, the impact to the environment has been reduced. From water conservation to dust suppression, First Quantum Minerals has done an impressive job to minimize negative effects on the physical environment. The company has also shown a commitment to investing in the local community, having donated over $1 million to local schools.
In addition, Cobre Panama has a state-of-the-art processing plant with an annual production capacity of over 300,000 metric tons of copper. This has strengthened Panama’s position as one of the world’s leading producers of copper, a metal with many industrial uses. The plant has been praised for its use of advanced technologies that have revolutionized the copper production process.
The Cobre Panama mining project has provided Panama with numerous economic and environmental benefits, while also delivering a positive experience for the local community. Thanks to First Quantum Minerals’ commitment to responsible mining operations, the extraction of copper from Cobre Panama can now be done in a safe and sustainable way that benefits both the local community and the environment.
“Cobre Panama: World’s 10th Largest Copper Mine”
