Tahoe Resources (TAHO) Slammed as Guatemala Proposes Adverse Constitution Amendment
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Tahoe Resources (NYSE: TAHO) could be seeing pressure from a new Guatemalan constitutional amendment which would give the government significant stakes in the companies who perform mining operations there.
The proposed amendment of Article 125 in the Constitution of Guatemala reads in part:
"The state may be the owner of up to 40 percent ownership or equity of any company that exploits natural resources."
"A law on state involvement in the exploitation of natural resources will regulate what corresponds to the state for concessions for natural resources and, if applicable, what must be provided as capital."
"The state will have the right to acquire up to 40 percent of companies which exploit natural resources either existing ones or in the circumstance where capital is increased or if they decrease their participation."
Tahoe shares are 46 percent lower following a second halt.
The proposed amendment of Article 125 in the Constitution of Guatemala reads in part:
"The state may be the owner of up to 40 percent ownership or equity of any company that exploits natural resources."
"A law on state involvement in the exploitation of natural resources will regulate what corresponds to the state for concessions for natural resources and, if applicable, what must be provided as capital."
"The state will have the right to acquire up to 40 percent of companies which exploit natural resources either existing ones or in the circumstance where capital is increased or if they decrease their participation."
Tahoe shares are 46 percent lower following a second halt.
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