Panama has authorized the sale of copper concentrate at First Quantum's shuttered Cobre Panama mine, President Jose Raul Mulino said on Thursday, boosting shares in the Canadian miner by 15% to a two-month high on the Toronto Stock Exchange.

First Quantum Minerals Ltd. was cleared to begin shipping out stockpiled copper in Panama, the latest sign authorities may be willing to negotiate a restart of the company’s giant shuttered mine.

First Quantum Minerals (OTCPK:FQVLF) +9.4% in Thursday's trading after Panama’s President Mulino said he will begin a review next week of its shuttered Cobre Panama copper mine and ordered the restart of a power plant needed to operate a nearby port that has been used to export the mine's production.

China’s top office on Hong Kong issues reposted a sharp attack on CK Hutchison Holdings Ltd. for agreeing to sell a controlling stake in Panama ports, warning companies to be very careful about which “side they should stand on.

Beijing signaled its displeasure over CK Hutchison Holdings’ agreement to sell its majority controlling stake in Panama ports to a BlackRock-led consortium.

Shares in Hong Kong-based conglomerate CK Hutchison fell 5 per cent on Friday after China criticised the sale of its Panama Canal ports and said it should “think twice” about the $22.8bn deal with US asset manager BlackRock.