TORONTO - First Quantum Minerals on Tuesday offered voluntary retirement to more than 1 500 employees at its key Panama mine, a day after announcing a major restructuring to conserve cash, which included suspension of dividends.

The Canadian miner is dealing with the fallout of the Panama government's decision in December to halt production at Cobre Panama mine following public protests, which accounted for more than 40% of the company's annual revenue and is considered one of the biggest and newest copper mines in the world.

Because of the closure of the mine, Cobre Panama in December requested government authorisation to lay off more than 4 000 of its employees.
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