Panama Approves 38M-Tonne Cobre Panamá Stockpile Processing, Boosting Franco-Nevada Royalties
Panama government approved removal, processing and export of approximately 38 million tonnes of stockpiled ore at the Cobre Panamá mine containing around 70,000 tonnes of recoverable copper. Franco-Nevada expects these operations to generate deliveries of about 23,000 gold ounces and 265,000 silver ounces under its royalty agreement.
1. Government Approval Details
The Government of Panama has formally approved the removal, processing and export of an estimated 38 million tonnes of mineralized ore stockpiled at the Cobre Panamá mine prior to its suspension. This stockpile is assessed to contain approximately 70,000 tonnes of recoverable copper, enabling partners to resume operations on existing material.
2. Expected Deliveries to Franco-Nevada
Under its royalty agreement, Franco-Nevada projects that processing the approved stockpile will result in deliveries of roughly 23,000 gold ounces and 265,000 silver ounces. These anticipated metal streams will contribute to the company’s royalty revenue once processing and export operations commence.