The Globe and Mail reports in its Tuesday edition that First Quantum Minerals says it will likely suspend production at its Cobre mine in Panama in the face of protests, as its licence to operate hangs on an impending legal decision. The Globe's Niall McGee writes that First Quantum has been in crisis mode since last month after Panamanian President Laurentino Cortizo announced that a referendum will be held on whether to repeal the law that legalized its latest mining contract. The government only last month signed a new 20-year contract on First Quantum's mine into law. However, as the contract was making its way through the legislature, thousands of people took to the streets to protest against First Quantum. Soon after the referendum was called, Panama's government said it would instead let the country's Supreme Court decide on the constitutionality of the negotiated mine contract. On Friday, the court will hear the matter, and will remain in session until there is a resolution. Scotia Capital analyst Orest Wowkodaw says he is concerned about First Quantum's highly leveraged balance sheet in light of a possible mine shutdown. As of Sept. 30, the company was carrying $6.8-billion (U.S.) in debt.