VANCOUVER, British Columbia,
Nov. 22, 2016 /CNW/ -- Tahoe
Resources Inc. ("Tahoe" or the "Company") (TSX: THO; NYSE:
TAHO) today announced that a previously reported protest involving
approximately 25 people outside the Company's Escobal mine in
Guatemala has reached a voluntary
end. The protest related to the Company's La Cuchilla home purchase
program (the "Program"), which was introduced by Tahoe as a
humanitarian act to support the La Cuchilla community as well as
the local government. The end of the protest follows discussions
between officials of Minera San
Rafael, the Company's subsidiary in Guatemala, and the protesters, with the
resulting resolution involving no material changes to the terms of
the Program. Production at Escobal has remained at normal levels
throughout the protest and the Company continues to target over 20
million ounces of silver production for the full-year 2016.
Ron Clayton, President and CEO of
Tahoe, commented: "We are very pleased to have resolved the protest
through dialogue and constructive engagement within the framework
of our existing home purchase program. Since discussions with the
protesters began, we have endeavored to balance respect for the
peoples' right to peacefully protest with our employees' right to
work, always prioritizing personal safety. We would like to thank
the La Cuchilla community, the Mayor of San Rafael and a number of
government agencies for working with us to resolve the situation in
a cooperative and respectful manner."
The La Cuchilla community is centered approximately half a
kilometer from the Escobal mine. Due to unstable soil and steep
topography, commonly seen in many parts of Guatemala, the country's National Coordinator
for the Reduction of Disasters ("CONRED") recently declared the La
Cuchilla village to be high risk. To assist local authorities in
re-locating residents, last summer the Company volunteered to
acquire homes identified as most at risk by CONRED at prices well
above current market levels. To date, approximately 70% of the
residents living in these homes have accepted the Company's home
purchase offer and the resolution reached between the Company and
community will facilitate the relocation of the remaining
residents. The Company does not need the acquired land for any
reason other than providing economic relief to at-risk
residents.
About Tahoe Resources Inc.
Tahoe's strategy is to responsibly operate precious metals
mines, to pay significant shareholder dividends and to grow by
developing long-term, low-cost assets in the Americas. Tahoe is a
member of the S&P/TSX Composite and TSX Global Mining indices
and the GDX and Russell 3000 on the NYSE. The Company is listed on
the TSX as THO and on the NYSE as TAHO.
For further information, please contact:
Tahoe Resources Inc.
Mark Utting, Vice President,
Investor Relations
investors@tahoeresources.com
Tel: 416-703-6298
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SOURCE Tahoe Resources Inc.