Quake Spares Cobre Panama, Chile's Copper Output Hits a Multi-Year Low, and Fortescue Cash Falls 37%

A magnitude 7.7 earthquake struck Panama and First Quantum said Cobre Panama remained stable while restart talks loom. Chile's August copper output fell 12.7% to its lowest in Cochilco's tables since at least 2023. Fortescue's cash fell 37% as its China Mineral Resources Group standoff continued. Kenmare faces an Abu Dhabi approach with a November 17 deadline.

Show Notes

Panama Quake Spares Cobre Panama as Restart Talks Loom: First, Panama, where the country's strongest earthquake in more than seven decades has left one of the world's biggest idled copper mines intact. The magnitude 7.7 quake struck Herrera Province on Friday, more than 120 miles southwest of the Panama Canal, according to the U.S. Geological Survey, as reported by The Edge. An early U.S.G.S. estimate puts economic losses above one billion dollars, about 1.4 billion Canadian. Chile's August Copper Output Falls to Its Lowest Since at Least 2023: Next, Chile, where fresh numbers show how much supply has already slipped before the latest strikes. Using data from the state copper commission, Cochilco, The Rio Times reports national mine output in August was 366,300 tonnes, down 12.7 percent from a year earlier. That was the lowest monthly total in Cochilco's tables since at least January 2023. For the first eight months, output is 3.25 million tonnes, down 7.7 percent. Cochilco marks all 2026 figures as provisional. Fortescue's Cash Falls 37% as the China Standoff Drags On: Meanwhile, in Western Australia, Fortescue is paying a visible price for its dispute with China's state-backed buyer. Reuters reports cash fell 37 percent in the September quarter to 3.2 billion dollars, from 5.1 billion three months earlier. Net debt more than tripled, to 2.8 billion dollars from 0.9 billion at the end of June. Kenmare May Be Better Off Holding Out as Abu Dhabi Circles: Finally, Dublin, where The Irish Times says Kenmare Resources may be better off holding out. Abu Dhabi's International Resources Holding, a unit of International Holding Company, has made a non-binding proposal for the titanium minerals miner. The Irish Takeover Panel has set a November 17 deadline for a firm bid. No price or conditions have been reported. Sources: - The Edge Malaysia (US Geological Survey figures) — Panama Quake Spares Cobre Panama as Restart Talks Loom: https://theedgemalaysia.com/node/821350 - Shanghai Metals Market — Panama Quake Spares Cobre Panama as Restart Talks Loom: https://news.metal.com/newscontent/104150513-cobre-panama-copper-mine-stable-after-major-earthquake-strikes-panama - Reuters — Panama Quake Spares Cobre Panama as Restart Talks Loom: https://www.reuters.com/business/panama-commission-recommends-reopening-first-quantum-mine-order-gradually-close-2026-09-30/ - The Rio Times (Cochilco data) — Chile's August Copper Output Falls to Its Lowest Since at Least 2023: https://www.riotimesonline.com/chile-escondida-copper-output-august-2026/ - Mining.com.au (Codelco August output) — Chile's August Copper Output Falls to Its Lowest Since at Least 2023: https://mining.com.au/indonesia-proposes-critical-minerals-partnership-with-chile/ - teleSUR English — Chile's August Copper Output Falls to Its Lowest Since at Least 2023: https://www.telesurenglish.net/centinela-mine-strike/ - Reuters via Mining.com.au — Fortescue's Cash Falls 37% as the China Standoff Drags On: https://mining.com.au/fortescue-cash-falls-37-amid-china-curbs/ - Mining.com — Fortescue's Cash Falls 37% as the China Standoff Drags On: https://www.mining.com/web/fortescue-says-dispute-with-chinas-cmrg-hits-iron-ore-sales/ - The Irish Times — Kenmare May Be Better Off Holding Out as Abu Dhabi Circles: https://www.irishtimes.com/business/markets/2026/10/10/kenmare-resources-oman-abu-dhabi-takeover-mozambique-mine-michael-carvill-tom-hickey/ - Perplexity Finance (UBS expectation) — Tomorrow's Flashpoint: https://www.perplexity.ai/finance/RIO

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