May 6 (Reuters) - First Quantum Minerals ( FQVLF ) is

looking forward to talks with the new administration in Panama

and to work together to find a resolution to its disputed Cobre

Panama mine, the Canadian miner said on Monday.

Panama on Sunday elected Jose Raul Mulino as its new

president.

The outcome is seen by analysts as a positive development

for the future of Cobre Panama mine which the outgoing

administration ordered closed last year after public protests

over environmental damage from mining in the country.

"We look forward to a dialogue with the new administration

and to working together once it takes office to find a

resolution that is in the best interests of Panama," a First

Quantum spokesperson said in an emailed statement.

Shares of First Quantum rose by 2.2% on the Toronto Stock

Exchange on Monday morning, but they are still down about 50%

from a 52-week high.