According to a statement from Panama's Ministry of Commerce and Industry on Tuesday, visits to First Quantum's Cobre Panama mine have not been authorized by the country. The statement clarified that any third-party entry to the site has been solely managed by the company without the involvement or approval of the National Government.

Minister Julio Molto shared the ministry's statement, mentioning that the government of Panama is currently in the process of arranging a comprehensive audit to evaluate the operational status of the mine and its environmental impact in a technical and unbiased manner.

The announcement from Panama was made following First Quantum's recent declaration of a visitation program to the Cobre Panama copper mining operation that has been closed since 2023 due to an environmental dispute with the country. The Panamanian government is concerned that public visits may compromise the neutrality of any assessments of the Cobre site and its copper concentrate reserves.

Before its closure, the mine was a significant global copper source, contributing to approximately 1% of the world's copper output.