The Government of Panama has formally approved the removal, processing and export of stockpiled ore at the Cobre Panamá mine that was extracted prior to the suspension of operations.
First Quantum has estimated the total stockpile at approximately 38 million tonnes of mineralized ore at varying grades, containing approximately 70,000 tonnes of recoverable copper.
Franco-Nevada estimates that processing of this material will result in deliveries to the Company of approximately 23,000 gold ounces and 265,000 silver ounces, as previously disclosed in Franco-Nevada's 2025 Management's Discussion and Analysis dated March 10, 2026.
Cobre Panamá is an open-pit copper mine in Panama, located 120 km (75 mi) west of Panama City and 20 km (12 mi) from the Caribbean Sea coast, in the district of Donoso, in the western part of the province of Colón. The mine consists of four zones totalling 13,600 ha (34,000 acres). The main deposits are at Botija, Colina and Valle Grande. With 3.1 billion t (6.8 trillion lb) of proven and probable reserves, Cobre Panamá is one of the largest new copper mines opened globally since 2010.
Source: Franco-Nevada Corporation/Wikipedia
