Tahoe Announces Successful Resolution to the La Arena Protest and Restart of Mining Operations
September 07 2018 - 8:45AM
Business Wire
Tahoe Resources Inc. (“Tahoe” or the “Company”) (TSX:
THO, NYSE: TAHO) announces a restart of mining operations following
an agreement to end the protest at its La Arena mine in Peru. In
the evening of September 6, 2018, the protestors from the community
of La Ramada signed an agreement to participate in a formal
dialogue table with Tahoe Peru to be hosted by the Ministry of
Energy and Mines (MEM), which will begin today. Following the
formal agreement, the protestors left Tahoe’s property and
operations successfully restarted with the overnight shift. The
Company welcomes a productive dialogue with the community members
of La Ramada.
At this time, we do not believe there will be a material impact
to annual production as a result of the eight days of suspended
mining operations. However, this event, together with the labor
strike in the second quarter at La Arena have disrupted production,
and the Company now expects to be near the low end of its annual
production guidance at La Arena of 160 to 185 thousand ounces of
gold.
About Tahoe Resources Inc.
Tahoe Resources is a mid-tier precious metals company with a
diverse portfolio of mines and projects in Canada, Guatemala and
Peru. Tahoe is led by experienced mining professionals dedicated to
creating sustainable value for all of its stakeholders through
responsible mining. The company is listed on the TSX (“THO”) and
NYSE (“TAHO”) and is a member of the S&P/TSX Composite, the TSX
Global Mining indices and the Russell 2000 on the NYSE.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release contains “forward-looking statements” within
the meaning of Section 27A of the United States Securities Act of
1933, as amended, Section 21E of the US Exchange Act, the United
States Private Securities Litigation Reform Act of 1995, or in
releases made by the United States Securities and Exchange
Commission, all as may be amended from time to time, and
"forward-looking information" under the provisions of applicable
Canadian securities legislation, concerning the business,
operations and financial performance and condition of the Company.
All statements, other than statements of historical fact, are
forward-looking statements. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as “plans”, “expects”, “is expected”, “guidance”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”,
“believes”, or variations or comparable language of such words and
phrases or statements that certain actions, events or results
“may”, “could”, “would”, "should", “might” or “will be taken”,
“occur” or “be achieved” or the negative connotation thereof.
Forward-looking statements include, but are not limited to,
statements related to the production target for the Company’s La
Arena mine in 2018, and the expectation of meeting such target at
the low end of the range.
Forward-looking statements are based on the reasonable
assumptions, estimates, analyses and opinions of management made in
light of its experience and its perception of trends, current
conditions and expected developments, as well as other factors that
management believes to be relevant and reasonable in the
circumstances at the date that such statements are made, but which
may prove to be incorrect. Management believes that the assumptions
and expectations reflected in such forward-looking statements are
reasonable. Assumptions have been made regarding, among other
things: the Company’s performance and ability to operate and
implement operational improvements at the La Arena mine; the
availability and sufficiency of power and water for operations; the
timely receipt and renewal of permits and other approvals; the
price of silver, gold and other metals; prices for key mining
supplies, including labor costs and consumables, remaining
consistent with the Company’s current expectations; plant,
equipment and processes operating as anticipated; there being no
material variations in the current tax and regulatory environment;
the Company’s ability to operate in a safe, efficient and effective
manner; the ability to resolve the protests and road blockages at
the La Arena Mine; relationships with the Company’s partners,
including employees, vendors and community populations are
maintained or effectively managed; the Company’s ability to obtain
financing as and when required and on reasonable terms; and the
Company’s ability to continue to comply with the terms of the
credit agreements with its lenders. Readers are cautioned that the
foregoing list is not exhaustive of all factors and assumptions
which may have been used.
Forward-looking statements are subject to known and unknown
risks, uncertainties and other factors that may cause actual
results to be materially different from those expressed or implied
by such forward-looking statements. Such risks, uncertainties and
other factors include but are not limited to: the fluctuation of
the price of silver and gold; opposition to development and mining
operations by one or more groups of indigenous people; actions that
impede or prevent the operations of the Company’s mines; the
inability to develop and operate the Company’s mines; social unrest
and political or economic instability and uncertainties in the
jurisdictions in which the Company operates; the timing and ability
to maintain and, where necessary, obtain necessary permits and
licenses; changes in national and local government legislation,
taxation and controls or regulations; environmental and other
governmental regulation compliance; un-appealable judicial
decisions; the uncertainty in the estimation of Mineral Resources
and Mineral Reserves; fluctuations in currency exchange rates;
infrastructure risks, including access to roads, water and power;
and the timing and possible outcome of pending or threatened
litigation and the risk of unexpected litigation. For a more
detailed discussion of risks relevant to the Company, see
“Description of Tahoe’s Business - Risk Factors Relating to Tahoe’s
Business” and “- Risk Factors Relating to Tahoe’s Shares” in the
Company’s Annual Information Form and Form 40-F, available on SEDAR
at www.sedar.com, on EDGAR at www.sec.gov or on the
Company’s website at www.tahoeresources.com.
Although management has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such forward-looking
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Forward-looking statements are made as
of the date hereof and, accordingly, are subject to change after
such date. Forward-looking statements are provided for the purpose
of providing information about management’s current expectations
and plans and allowing investors and others to get a better
understanding of the Company’s operating environment. The Company
does not intend or undertake to publicly update any forward-looking
statements that are included in this document, whether as a result
of new information, future events or otherwise, except as, and to
the extent required by, applicable securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20180907005075/en/
Tahoe ResourcesAlexandra Barrows, +1 775-448-5812Vice President
Investor Relationsinvestors@tahoeresources.com
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