That is a big mine 5 % on worlds copper production Why did government take this approach towards FM and take over the mine.
Who will now operate the mine ??The Government. ?? How many employees work at the mine.
What will Govt have to pay FM ? 10 Billion or more. ??
Will govt come to its senses and allow FM to continue. What impact to FNV Royalty. FNV is down 45 % .. Is it a BUY ? Is FM a BUY ?
Panama Canal is low on water and not many ships can pass through on a daily basis. Does this cost the government
What kind of Government runs Panama. Should one not invest in Panama at all. ?
RAK
Most of these answers have been posted in the archives with prior questions. 1) The mine is closed, and may not re-open with any one else 2) About 8,000 employees, most have been laid off 3) FM will need to enter arbitration for any compensation. It will take a long time and there is no guarantee of any compensation 4) We can't speak for the Panamanian government, but closing the mine does impact the country's GDP significantly. But the citizens do not want the mine, so the government is in a tough spot 5) The mine represented about 22% of FNV. 6) We see no need to buy either. FM may breach debt covenants. FNV we think will be interesting as a buy at some point but we think it is best to wait at bit. 7) The Canal is significant to the country, but we can't comment on Panama investments. Obviously this event will hurt investment in the country.