Arbitration between miner Franco-Nevada, Panama moves to next stage

Arbitration proceedings between Canadian miner Franco-Nevada and Panama over the Cobre Panama copper mine entered a new phase this week with the formation of a tribunal to hear the case, according to legal disclosures filed by the parties.

Investors are awaiting Panama President Jose Raul Mulino's decision over the future of the mine, which was shut down last year due to public unrest. Cobre Panama is the flagship mine of Canadian miner First Quantum Minerals FM.TO, which is also seeking damages from Panama.