During its hostile takeover bid, First Quantum said it would utilize its own in-house expertise rather than contracting with engineering, procurement and construction management companies, hopefully saving up to $1 billion in project capex costs.

First Quantum President Clive Newall told Reuters last month, “There will be a hiatus of three to six months, whatever it takes to do a comprehensive reassessment and renegotiations where required. But our build time will be shorter.”

He said it would be several months before First Quantum could publish specific targets and its own plan for Cobre Panama’s construction.

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