Tahoe Resources seeking second mine in Guatemala, CEO says
Tahoe Resources seeking second mine in Guatemala, CEO says
By Alex Emery - Wednesday, December 4, 2013
Vancouver-based Tahoe Resources (TSX: THO, NYSE: TAHO), which is ramping up output at its US$326.6mn Escobal silver-lead-zinc mine in Guatemala, aims to add a second mine in the Central American country, CEO Kevin McArthur said.
Tahoe, which is slated to produce up to 21Moz silver at Escobal next year, will focus its first stage of exploration spending in Guatemala, which "will take some time," McArthur said.
"We have a huge land package in Guatemala and there's a lot of upside there," McArthur said Wednesday at the Scotiabank mining conference in Toronto. "I'd like to find mine number two right there."
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Work at Escobal, delayed earlier this year by violent protests, has made progress since President Otto Pérez Molina clamped down on non-government organizations in April, McArthur said. "Guatemala is a good place to do business," he said.
"The country wants mines, and the oil and gas industry to invest in the country. They want the jobs, the foreign exchange and the tax base," McArthur said. "It is a noisy place, there's a very strong left contingent and we had some violent events around our project. But the president stepped in and established law and order."
http://www.bnamericas.com/news/mining/tahoe-resources-seeking-second-mine-in-guatemala-ceo-says