Tahoe Resources (TAHO) Says Guatemala Won't Affect Escobal Project
Tweet Send to a Friend
Up)
Tahoe Resources Inc. (NYSE: TAHO) reported that government-proposed mining law reforms in Guatemala should not affect its Escobal project. Media reports released this morning outlined a proposal from President Perez Molina's administration to allow state ownership in mining projects.
Company communications with high-level officials in Guatemala's Ministry of Energy and Mines (MEM) indicate that the government has no intention of acquiring an interest in the Escobal project or other mining projects in the country. According to CEO Kevin McArthur, "The government of Guatemala has not made any approach to the Company regarding this proposed reform, nor do we expect it to. Full permitting for the 100%-owned Escobal project is still anticipated in the second half of 2012."
MEM officials have explained that they believe the proposal is intended to promote early-stage mining exploration in Guatemala. Meanwhile, construction of Escobal continues on schedule and the Company does not expect any delays to completion.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Company communications with high-level officials in Guatemala's Ministry of Energy and Mines (MEM) indicate that the government has no intention of acquiring an interest in the Escobal project or other mining projects in the country. According to CEO Kevin McArthur, "The government of Guatemala has not made any approach to the Company regarding this proposed reform, nor do we expect it to. Full permitting for the 100%-owned Escobal project is still anticipated in the second half of 2012."
MEM officials have explained that they believe the proposal is intended to promote early-stage mining exploration in Guatemala. Meanwhile, construction of Escobal continues on schedule and the Company does not expect any delays to completion.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Mediabistro (MBIS) halted on circuit breaker; last up 82%
- Apple (AAPL) Bolsters Apple TV Offerings with HBO GO, WatchESPN
- Boeing (BA), Ryanair (RYAAY) Finalize Massive 737 Order
Create E-mail Alert Related Categories
Corporate News, Trading Halts
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
