Aurora Macro Strategies

Public Debt Report: Cobre Panamá’s First Quantum of Solace

October 16, 2026

Public DebtLatin America

Panama is positioning for a controlled reopening of Cobre Panamá while seeking to settle billions of dollars in investor claims without openly defying its Supreme Court. Aurora maps the path toward a state-directed operating structure, the role of First Quantum, the timeline for reopening and the implications for the company’s credit and equity.

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Public Debt Report: Cobre Panamá’s First Quantum of Solace