Franco-Nevada (FNV) said a Panamanian ministerial commission has recommended opening negotiations with its partner First Quantum Minerals to determine the future of the Cobre Panama mine.

The commission's report calls for talks on a new agreement that would end pending international arbitrations and set conditions for either restarting operations or carrying out an orderly closure, First Quantum said Wednesday in a statement.

The commission said any closure must occur at no cost to Panama and with no possibility of extension, while prioritizing environmental, social and economic interests.

Price: 239.13, Change: -8.81, Percent Change: -3.55