Stock rose 7.3% on Wednesday after the company announced Q2 results that beat expectations.
Guatemala Mining News
A worker is missing following an accident at a Guatemala mine owned by Vancouver’s Goldcorp (TSX:G).
In Latin America, resource development and its economic benefits continue to butt heads with indigenous culture and tradition.
Operations continue to perform within guidance.
The industry is generally optimistic after a difficult year. According to a recent study by the EY Global Mining & Metals Center, the mining sector was battered and bruised in 2014, but is expecting a strong performance in 2015.
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%.
Seven Guatemalan men have filed a civil lawsuit in a Vancouver court against Canadian mining company Tahoe Resources Inc. for injuries they suffered last year when the miner’s security personnel opened fire on them at close range.
A local resistance movement has been trying to stop development of El Tambor gold mine.
Other two Canadian jurisdictions —New Brunswick and Newfoundland and Labrador— also made it to the top 10 worldwide. Kyrgyzstan and Venezuela, named the two countries mining enthusiasts should stay away from.
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.
The mine is expected to produce 20 million ounces a year when it goes into operation next year, but the project has been plagued by violence and unrest.
The ruling was announced around 11:30 am ET in a press conference held by a local environmentalist group.
The three lawsuits against the miner over alleged shootings and gang rapes at a Guatemalan project will be allowed to proceed in Canada.
Central American nation is rewriting mining law and wants to suspend new mining and exploration licences for two years.
Company's staff faces claims of obstructing justice and ordering to shoot protestors.
The five main investment-grade markets — Brazil, Mexico, Chile, Peru and Colombia— have been expanding below projections or showing signs of weakness.
Protesters are up in arms against Tahoe Resources' Escobal flagship project.
After more than two years of delay, the Guatemalan Minister of Energy and Mines (MEM) announced it had approved the exploitation license for Tahoe Resources’ Escobal mine in San Rafael Las Flores, Guatemala.
Study reveals some Latin American countries are racing to attract foreign investors eager to cash in on natural resources.
Meanwhile try avoiding Indonesia, Vietnam, Venezuela, Democratic Republic of Congo (DRC), Kyrgyzstan, Zimbabwe, Bolivia, Guatemala, Philippines, and Greece, says Canada's leading public policy think-tank.
Citizens’ groups, backed by the radical leftist party Syriza that is now the second largest group in parliament, have been trying to wreck the project since 2011, when Eldorado was granted its exploration licence.
Country wants the Inter-American Commission on Human Rights (CIDH) to help it stop Goldcorp's Cerro Blanco project.