The major silver miners’ stocks remain deeply out of favor, languishing near multi-year lows.
Tahoe Resources Mining News
Workers were demanding higher profit-sharing payouts.
Constitutional Court has requested additional information.
Latin America recorded 246 conflicts in mining regions in 2016, more than double the number in 2010.
Adjusted loss was $17.7 million, which dramatically contrast with the $18.4 million profit logged a year ago, which reflects the impact of the ongoing shutdown of its flagship Escobal silver mine, in Guatemala.
Tahoe Resources (TSX, NYSE:THO) is denying a media report issued on Thursday that its Shahuindo mine in Peru has contaminated local water supplies.
Canadian miner cited uncertainty over whether it will ever have its mining license for the operation reinstated as main reason for the layoffs.
Vancouver-based producer rises 33% after Supreme Court of the central American nation reinstates operating licence for world's third largest silver mine.
Together with reevaluating its previous multi-year guidance, the company is now reviewing the financial impact of the mine suspension to its longer term capital and exploration programs.
The Vancouver-based miner seems to be handling the situation well, as officials announced Wednesday that balance sheets "remains strong"
The Canadian miner said it will take “all legal steps possible” after the country’s Supreme Court suspended the mining licence for its flagship Escobal silver mine.
Protest seems to be about a variety of issues, including claims that mining at Escobal is causing seismic activity in Casillas, located about 20 km from the operation.
It produced 5.7 million ounces of silver from Escobal, the third largest silver mine in the world – a 17% increase from the previous quarter.
US Securities and Exchange Commission asked to investigate Tahoe Resources’ failure to disclose secret lawsuits
Groups is asking the SEC to determine whether Tahoe failed to meet legal requirements for disclosing human rights abuses and lawsuits related to its Escobal mine in Guatemala.
Stock rose 7.3% on Wednesday after the company announced Q2 results that beat expectations.
As part of the miner's strategy to grow gold production in Timmins, Northern Ontario, to over 250,000 ounces per year by 2020.
The company has emerged as a new leader in the precious metals sector with a well-diversified, Americas-based operating platform, a strong balance sheet and an attractive growth profile.
Tahoe Resources' founder and executive chair Kevin McArthur said the operations present "nice synergies".
Tahoe Resources has agreed to buy Canadian precious-metals miner Lake Shore Gold in an all-stock deal valued at Cdn$945 million ($678 million).
Stock in Guatemala focused miner in double digit gain Friday as silver operations throw off cash and newly-acquired gold properties outperform.
The Canadian firm said its Escobal mine remains unaffected by the ongoing political turmoil in the country, which has forced President Otto Perez to resign amid a corruption scandal that gutted his government.
Tahoe’s executive chair becomes CEO.
The company also said it will spend between $850 and $900 to produce an ounce of gold this year, less than its previous forecast of between $875 and $950.
The news came on the same day Royal Bank of Canada downgraded Goldcorp’s stock to “sector perform” from “outperform,” citing concerns over the miner’s ability to continue paying its monthly dividend.
Operations continue to perform within guidance.