The Globe and Mail reports in its Saturday, Dec. 2, edition that First Quantum Minerals said Friday that it has started arbitration against Panama in the International Court of Arbitration for the forced closure of its Cobre Panama mine. The Globe's Niall McGee writes that arbitration between the private sector and governments typically takes years to play out, and even in the event of a victory for the company there is no guarantee of ever receiving compensation. The arbitration hearing will be held in Miami. On Wednesday First Quantum addressed the possibility of bringing in a partner on Cobre Panama to alleviate its financial exposure. Scotia Capital analyst Orest Wowkodaw is dubious there is a viable partner at this point, given the uncertainty over the outcome of the arbitration. Panama's former minister of commerce Federico Alfaro Boyd acknowledged in a statement "the patriotic fervor" whipped up by the thousands of Panamanians who protested against the mine over the past few months. He also raised concerns about the financial damage the country could incur by the closing of Cobre Panama, including possible job losses, economic instability, and damage to the country's international credit rating.