(Adds detail, background)
PANAMA CITY, March 3 (Reuters) - Panamanian President
Laurentino Cortizo said on Friday talks between his government
and Canada's First Quantum Minerals over the operation
of a major copper mine were in the final stretch, with only one
point still to be resolved.
"We are in the final stretch to reach an agreement, but that
agreement has to be beneficial for the Republic of Panama", said
Cortizo in a speech in central Panama's Veraguas province.
"There is only one point that is currently pending and we
hope it will be resolved as soon as possible", he said.
The Canadian miner, which operates the Cobre Panama mine in
the Central American country, has been locked in a prolonged
contract dispute with the government, with tax and royalties at
the forefront of the stalemate.
Earlier this week, a lawyer advising the government had said
that while two issues were almost resolved, a third issue
regarded an "economic aspect" involving tax deductions, which
the government said would hurt its income from the mine in times
of high output and prices.
(Reporting by Milagro Vallecillos; Writing by Sarah Morland;
Editing by Sandra Maler and Diane Craft)
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