PANAMA CITY, March 6 (Reuters) - The cost of the closure

of Canadian miner First Quantum's copper mine in Panama is

estimated at around $800 million, Trade and Industry Minister

Jorge Rivera said on Wednesday.

An inter-ministry coalition, which is developing the mine's

closure plan, is working on alternative measures to recoup funds

so that the cost does not come out of the state's coffers,

Rivera told journalists.

Panama's government ordered the shutdown in December after

protests calling for more environmental protections erupted

across the country and a court ruling deemed the contract to run

the mine unconstitutional.

It is still unclear who will pay for the mine's closure

process, but the Panamanian government suggested on Tuesday that

First Quantum's unit in the country set out financial guarantees

to cover the cost of closing its lucrative copper mine.

Creating a plan to close the mine could take between six

and eight months, the minister said, noting Panama is headed to

elections in May so the next president will be the one in charge

of finishing it.

The mine's activity represents about 5% of the country's

GDP, and Panama is expected to see growth slow in 2024 to 2.5%

from 7.5% as a result of the closure of the mine, according to

data from the International Monetary Fund (IMF).