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.
An in-depth documentary by AlJazeera TV analyses the main human rights and environmental claims against the miner.
Doomsayers may surely be relieved to read the latest posts by geologist Wayne Sedawie, who for years has travelled and investigated ancient Mayan sites, as he explains why the end of the world is not a month away.
Vancouver-based Tahoe Resources Inc. said Wednesday construction activities on the power line for the Escobal silver project in Guatemala were disrupted by a mob intent on forcing the company to end construction.
Like most of Latin America, Guatemala is to increase control over natural resources, with President Otto Perez Molina proposing a Constitutional reform that will make possible for the for the government to acquire up to 40% of the mining and exploration companies operating in the country.
With a total investment of $406 million, Canadian based mining exploration company Tahoe Resources (NYSE:TAHO), through its subsidiary Minera San Rafael SA, could become one of the largest silver producers in the world thanks to its El Escobal project in southeastern Guatemala, approximately 70 kilometres from Guatemala City.
Thousands of indigenous farmers protest in Guatemala City against mining and hydroelectric projects close to their villages. This is the first march of aboriginals during the government of Otto Perez, who assumed on January 14, for a period of four years.
VANCOUVER, BC–(Marketwire – Nov 14, 2011) – Tahoe Resources Inc. (Tahoe or the Company) (TSX: THO) is pleased to announce new drilling results from the Escobal project in southeast Guatemala. This update demonstrates significant expansion of known mineralized zones and provides continued optimism for deeper geologic upside at the project.
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