April 24 (Reuters) - Canadian miner First Quantum

Minerals ( FQVLF ) believes it will be able to take the already

mined copper out of its disputed Cobre Panama mine in Panama

after the national elections there in May, the company's chief

executive said on Wednesday.

Panama's current government ordered the closure of the

copper mine last year after public protests over environmental

damage from mining in the country. Cobre Panama is one of the

biggest copper mines in the world and accounted for 40% of First

Quantum's revenue last year.

First Quantum has been negotiating with Panama's government

to allow it to sell the copper that it mined before the dispute

began. The sale could help cover the costs of maintaining the

mine.

"Obviously, in the context of election politics and a strong

debate around that, the balance of probability probably spills

over after the election," said Tristan Pascall, CEO of First

Quantum Minerals ( FQVLF ), when asked during an analyst call when the

company expects to take out the copper from the mine site.

Cobre Panama is under dispute after the Panama Supreme Court

nullified its mining contract and the country's president closed

the mine after public protests erupted against mining.

A new government in Panama could turn around the mine's

future. However, polls show that people of Panama are still

against mining in the country.

Pascall said during the call that the company cannot say yet

whether the company can restart the mine by the second half of

this year.

The move pushed First Quantum to undertake a series of debt

restructuring measures, including issuing equity worth $1

billion and corporate debt worth $1.6 billion. It is also

considering bringing in a equity partner for its Zambian mines.

Reuters in March reported that First Quantum officials met

with Chinese government officials to discuss the prospect of

copper miner Jiagnxi Copper buying the disputed copper from

Panama after the elections.

Shares of First Quantum were up 2% on the Toronto Stock

Exchange around midday.