PANAMA CITY, May 9 (Reuters) - Panama's president-elect

on Wednesday ruled out holding talks with Canadian miner First

Quantum Minerals ( FQVLF ) until it drops arbitration proceedings

it has launched against the government over a controversial mine

shutdown order.

President-elect Jose Raul Mulino spoke about his plans

regarding the major copper mine, once responsible for some 5% of

Panama's GDP and some 40% of First Quantum's revenue, in an

interview with local news radio program 'Panama en Directo.'

The outgoing government of President Laurentino Cortizo had

ordered the closure of Cobre Panama last year following a court

ruling that voided the miner's operation contract, amid

widespread national protests for more environmental safeguards

and transparency.