The Ministry of Commerce and Industry (MICI) has approved the volumes of stockpiled ore for processing by the company. According to the resolution, the company must process: 10.5 million tons of medium-grade ore, 22.1 million tons of low-grade ore, 0.5 million tons of crushed ore, and 4.9 million tons extracted from the Botija pit. The total volume will be 38 million tons plus an additional 0.6 million tons. It is estimated that during the 13-month processing period, $60 million will be generated for the state, and approximately $350 million will be spent on purchases from suppliers for goods and services. Following the approval by the Ministry of Commerce and Industry to process, export, and commercialize the exposed rock material at the Cobre Panamá mine in Donoso, First Quantum Minerals, the parent company of Minera Panamá, estimated the cost of executing this program at approximately $250 million. The company explained in a statement that the stockpile processing program mainly involves inventory replenishment and the reactivation of the plant's operational capacity. According to the company, preparatory work must be completed before processing begins, which could take up to three months, including hiring and training personnel, equipment rehabilitation, and re-establishing the necessary supply chains for operation. The company estimates that the entire process will take approximately 13 months. In this process, the company plans to hire around 1,000 additional workers, which would increase the workforce to about 3,000 people, including direct and indirect jobs in areas such as maintenance, logistics, services, and operational support. "We welcome the formal approval to proceed with the removal and processing of the stockpiled ore, which represents an important step in Cobre Panamá's responsible environmental management, particularly concerning water management and tailings," said Tristan Pascall, Executive Director of First Quantum, in a statement.
