TORONTO, March 8,
2023 /PRNewswire/ - Franco-Nevada Corporation
("Franco-Nevada" or the
"Company") (TSX: FNV) (NYSE: FNV) has been advised by its
partner First Quantum Minerals Ltd. ("First Quantum") of the
following:
- First Quantum's subsidiary, Minera Panama, S.A.
("MPSA"), has agreed and finalized the draft of a concession
contract (the "Proposed Concession Contract") with the
Government of Panama for the Cobre
Panama mine. The Proposed Concession Contract will have an
initial 20-year term, with a 20-year extension option and
additional extensions for the life of mine
- The Proposed Concession Contract is subject to a 30-day public
consultation process and approvals by the Panamanian Cabinet,
Comptroller General of the Republic and the National Assembly
- The Panama Maritime Authority has confirmed that it will issue
a resolution today for MPSA to resume concentrate loading
operations at the Punta Rincón port. Ore processing is expected to
resume and restore the mine to full production levels over the next
several days
For more detailed information, including certain key terms of
the Proposed Concession Contract, please refer to First Quantum's
press release dated March 8,
2023.
For more information, please go to our website at
www.franco-nevada.com
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 Proposed
Concession Contract and its terms, the Proposed Concession Contract
being subject to a public consultation process and the necessary
approvals thereof and the expected timing of commencement of
concentrate loading operations and of full restoration of
production at Cobre Panama. 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, please refer to Franco-Nevada's most
recent Annual Information Form filed with the Canadian securities
regulatory authorities on www.sedar.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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SOURCE Franco-Nevada Corporation