Panama's Supreme Court declares 20-year contract for Canadian copper mine unconstitutional

abcnews.go.com:

Panama's Supreme Court has unanimously declared a 20-year concession for a Canadian copper mine that had sparked weeks of protests as unconstitutional

PANAMA CITY — Panama’s Supreme Court ruled unanimously Tuesday that a 20-year concession for a Canadian copper mine that has been the focus of widespread environmental protests was unconstitutional and the president said later a process to close the mine would begin.

Opponents of the Cobre Panama mine argued it would damage a forested coastal area and threaten water supplies. The announcement of the nine-member court's decision after four days of deliberations set off cheers among a crowd of people waiting outside and waving Panamanian flags.

“This is what we had been waiting for,” demonstrator Raisa Banfield said after what she called an agonizing wait. “The president has to suspend (mine) operations today."

Minera Panama, the local subsidiary of Canada’s First Quantum Minerals, which operates the mine in central Panama, said in a statement that “Cobre Panama acknowledges the court’s decision.”

“We want to affirm our unwavering commitment to regulatory compliance in all aspects of our operations within the country,” the company wrote. «We will comment further as additional details on the ruling are made public.”

Panama President Laurentino Cortizo told the nation Tuesday that as soon as his administration formally receives the court's decision it would be published in the official gazette and a process will begin “for an orderly and safe closure of the mine.”

The mine employs thousands and accounts for 3% of Panama’s gross domestic product.

In March, Panama’s legislature reached an agreement with First Quantum allowing Minera Panama to continue operating the huge copper