Morning Bites (Part 2)

⛏Canada's First Quantum was ordered to halt operations at its copper Cobre Panama mine, after missing a midnight deadline to finilise a deal with the government. The company had to sign an agreement reached in January to pay USD 375mn per annum to the local authorities from the mine. Cobre Panama produced 331kt of copper last year, or ~1.5% of global copper supply in 2021. We therefore believe the news is supportive for the red metal's price, though the timing of the operational stoppage has not yet been defined

#copper
https://metals-wire.com/sector/Copper