The Financial Post reports in its Friday edition that First Quantum Minerals says it remains committed to Panama and its flagship mine, even as the company follows orders from the government to indefinitely close the $10-billion (U.S.) operation. A Bloomberg dispatch to the Post says that First Quantum received an initial "framework" from Panamanian authorities on Tuesday for closing the mine by June of next year, and will follow up with the government to discuss the details of executing the shutdown, chief executive officer Tristan Pascall told Bloomberg. Panama's decision to close the massive mine in the wake of countrywide protests has sent shock waves through the mining industry and helped wipe out more than half of First Quantum's market value. Mr. Pascall and chief financial officer Ryan Macwilliam declined to comment on potential longer-term solutions for the mine, emphasizing that the focus for now is on ensuring the closure is managed responsibly. The company has warned that a shutdown of the mine's water treatment plant could effect water quality in the area surrounding Cobre Panama if not planned carefully. "We want to be part of the solution in the long run in Panama," Mr. Pascall said.