Panama Congress backs repealing First Quantum mine contract

Panama’s congress voted to repeal a mining contract with First Quantum Minerals on Wednesday in the second of three required votes, making a proposed referendum on extending or revoking the contract unnecessary.

The bill was voted on by article, and the provision to repeal First Quantum’s revised contract was passed in a 63-0 vote. Congress was convened to a special session on Thursday for a third, definitive vote on the bill. A final vote to repeal would threaten to send the deal extending the company’s mining license by 20 years into arbitration.