TORONTO, Dec. 1, 2023
/CNW/ - Franco-Nevada Corporation ("Franco-Nevada" or the "Company") (TSX:
FNV) (NYSE: FNV) notes that its partner, First Quantum Minerals
Ltd. ("First Quantum"), has provided a further update in
respect of recent comments made by the President of Panama, Laurentino
Cortizo, regarding a transition process for the closure of
the Cobre Panama mine.
For more detailed information, please refer to First Quantum's
news release dated December 1,
2023.
Franco-Nevada also reports
that, on November 23, 2023, the
Company notified the Ministry of Commerce and Industry of
Panama 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 November 14,
2023, the Company's notice facilitates consultations between
the Government of Panama and the
Company under the Free Trade Agreement in order to avoid the need
to file any such arbitration.
Forward-Looking
Statements
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 revenue Franco-Nevada derives from
its streaming arrangements relating to Cobre Panama and on
Franco-Nevada's results of operations and financial condition.
There can be no assurance that such forward-looking statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Investors are cautioned that forward-looking statements are not
guarantees of future performance. Accordingly, investors should not
place undue reliance on forward-looking statements due to the
inherent uncertainty therein.
For additional information with respect to risks,
uncertainties and assumptions relating to Franco-Nevada's business
and assets, please refer to Franco-Nevada's most recent Annual
Information Form filed with the Canadian securities regulatory
authorities on www.sedarplus.com and Franco-Nevada's most recent
Annual Report filed on Form 40-F filed with the SEC on www.sec.gov.
The forward-looking statements herein are made as of the date of
this press release only and Franco-Nevada does not assume any
obligation to update or revise them to reflect new information,
estimates or opinions, future events or results or otherwise,
except as required by applicable law.
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content:https://www.prnewswire.com/news-releases/developments-in-panama-302003192.html
SOURCE Franco-Nevada Corporation
