Guatemala's Constitutional Court last week upheld the suspension of licenses at Escobal mine. The ruling was "disappointing."
Escobal Mining News
Latin America recorded 246 conflicts in mining regions in 2016, more than double the number in 2010.
The mine generated 20.3 million ounces (moz) of silver contained in concentrates recovered from 1.246 million tonnes of ore at an average grade of 585 grams per tonne (gpt).
President Otto Perez Molina has approved a new rule passed by the Congress last week, which rises taxes to transnational miners operating in the country from 1% to 10%.
The country’s congress passed Friday legislation to increase mining royalties from 5% to 10%.
Analysts say it could soon become one of the world’s largest producers of the precious metal.
Tahoe expects to ramp-up to full production of 3,500 tonnes per day by the first quarter of 2014.