Developments in Panama

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[{"type":"text","content":"\n \n \n \n Developments in Panama\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Dec. 1, 2023\n \n \n /CNW/ - Franco-Nevada Corporation (\"\n \n Franco-\n \n Nevada\n \n \n \" or the \"\n \n Company\n \n \") (TSX: FNV) (NYSE: FNV) notes that its partner, First Quantum Minerals Ltd. (\"\n \n First Quantum\n \n \"), has provided a further update in respect of recent comments made by the President of\n \n Panama\n \n ,\n \n Laurentino Cortizo\n \n , regarding a transition process for the closure of the Cobre Panama mine.\n \n \n For more detailed information, please refer to First Quantum's news release dated\n \n December 1, 2023\n \n .\n \n \n Franco-\n \n Nevada\n \n also reports that, on\n \n November 23, 2023\n \n , the Company notified the Ministry of Commerce and Industry of\n \n Panama\n \n of its intent to initiate arbitration to enforce its rights under international law pursuant to the Canada-Panama Free Trade Agreement. Similar to the notice filed by First Quantum on\n \n November 14, 2023\n \n , the Company's notice facilitates consultations between the Government of\n \n Panama\n \n and the Company under the Free Trade Agreement in order to avoid the need to file any such arbitration.\n \n \n \n Forward-\n \n \n Looking\n \n \n Statements\n \n \n \n \n This press release contains \"forward-looking information\" and \"forward-looking statements\" within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may include, but are not limited to, statements with respect to the transition process for the closure of the Cobre Panama mine and potential international arbitration under the Canada-Panama Free Trade Agreement. The outcome of these matters, the failure to restart production from the mine, the inability to achieve agreement on appropriate mining concession arrangements, and further steps in respect thereof by the Panamanian government and courts could have a material adverse impact on the revenu...

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