Tahoe Resources
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Tahoe Resources Inc. (NYSE: TAHO, TSX: THO) is a mining exploration company founded in Vancouver, BC by Kevin McArthur - former CEO of Glamis Gold and Goldcorp. It is now headquartered in Reno, Nevada.[1] Tahoe Resources is in the Industrial Metals and Minerals industry, and has 146 full-time employees.[2]
Escobal Project
The Escobal project is a high-grade silver discovery located in Southeast Guatemala. In November 2010, Tahoe released a Preliminary Assessment[3] of the project completed by M3 Engineering. Escobal hosts an Indicated silver resource of 245.2 million ounces at 500 g/t average grade, and an Inferred silver resource of 71.7 million ounces at 271 g/t average grade. Capital cost for the 3,500 tonne per day underground mine and milling operation amounts to $326.6 million, yielding an 18 year mine life, a +50% after tax rate of return and an NPV(5) of $1.7 million. Over the first five years of operations, Escobal is expected to average 20 moz silver per year at a cash cost of less than $3.00 per silver ounce.
Production is projected for late 2013 with commercial production commencing in early 2014. The first five years of commercial production at the Escobal Mine are expected to reach 20 million annual ounces of silver at a total cash cost of less than $3.00 per ounce of silver produced, net of by-product credits.
Alleged Tahoe Role in Violence Related to Escobal Mine
Local residents' resistance to the Escobal Mine project led to violent clashes in Spring 2013.[4] Media reported that Alberto Rotondo, Tahoe's Security Chief for the Escobal project, was caught in a wiretap giving direct orders to murder local opponents of Tahoe's mining project, referring to protesters as "damn dogs" (malditos perros).[5] Tahoe admitted in a statement that Rotondo had been detained at La Aurora Airport in Guatemala City, but Tahoe representatives claimed that Rotondo was not fleeing the country to avoid prosecution, but rather that his attempt to leave shortly after being recorded ordering the murder of local residents was a "coincidence."[6] A second individual employed by the project is under investigation for helping to cover up Rotondo's directive to murder local protesters.[7]
Key People[8]
Kevin McArthur, President, CEO and Director
Ron Clayton, VP & COO
Jaime Mondragon, VP & CFO
Brian Brodsky, VP Exploration
Edie Hofmeister, VP & General Counsel
Sergio Saenz, Managing Director, Guatemala
Board of Directors[9]
Dan Rovig, Chair
Kevin McArthur
Lorne Anderson
John Bell
Paul Sweeney
Jim Voorhees
Ken Williamson
Tanya Jakusconek
Offices
Vancouver, BC, Canada
Reno, Nevada, USA
Guatemala City, Guatemala, CA
San Rafael las Flores, Santa Rosa, Guatemala, CA
Company Website
See also
References
- ^ "Tahoe Resources Inc. Company Profile". Yahoo! Finance.
- ^ "Tahoe Resources Inc. Company Profile". Yahoo! Finance.
- ^ "Tahoe Resources Inc. Associated Documents". Sedar Preliminary Assessment. Sedar. Retrieved November 2010.
{{cite web}}: Check date values in:|accessdate=(help) - ^ "Guatemalan officer killed in clash at Tahoe Resources mine". Agence France-Presse. The Globe and Mail. Retrieved 17 May 2013.
- ^ ""Malditos perros"". Prensa Libre. Retrieved 17 May 2013.
- ^ "Tahoe denies security chief arrested, calls media reports inaccurate". Mineweb. Moneyweb Holdings Limited. Retrieved 17 May 2013.
- ^ "Ligan a proceso a asesor de mina San Rafael". Prensa Libre. Retrieved 17 May 2013.
- ^ "Tahoe Resources Inc CEO & Executives". Bloomberg Businessweek. Businessweek. Retrieved 8 July 2011.
- ^ "Tahoe Resources Inc CEO & Executives". Bloomberg Businessweek. Businessweek. Retrieved 8 July 2011.