Tahoe reports Guatemala court resolution
PRESS RELEASE
VANCOUVER, British Columbia--(BUSINESS WIRE)-- Tahoe Resources Inc. ("Tahoe" or the "Company") (TSX: THO) (NYSE: TAHO) is pleased to report that yesterday the Guatemalan Constitutional Court responded to the requested clarifications regarding the Court's final resolution on the Escobal mining license, dated September 3, 2018. With this action, the Court's resolution is now final. There is an administrative period during which the resolution will be sent to the Supreme Court and then to the Ministry of Energy and Mines ("MEM"). Upon receipt of the resolution, MEM can then begin Stage 1 of the court-ordered ILO 169 consultation process.
The clarifications provided by the Court were predominantly administrative in nature. The primary change from the process as outlined in the Company's press release dated September 7, 2018 is the Stage 1 - Review phase. Previously, the Ministry of Environment ("MARN") was required to work directly with the consultant responsible for Escobal's Environmental Impact Study ("EIS") issued in 2011 in order to reconfirm the area of influence. However, the Court has now specified that Minera San Rafael ("MSR") shall work with the EIS consultant, or another qualified consultant, and experts at two Guatemalan universities - Universidad del Valle and Universidad de San Carlos - to review, define, and recommend the area of influence to MARN. The Company welcomes MSR's involvement in Stage 1 and the opportunity to work with experts to determine the most appropriate area of influence. The Court's clarification also reconfirmed that the entire Stage 1 should be completed in one month.
Jim Voorhees, Tahoe Resources President and Chief Executive Officer, commented: "We are pleased that the Constitutional Court has responded to the requests for clarifications and that the resolution is now final so that the formal ILO 169 consultation process can begin. We look forward to supporting MEM in fostering a thorough, productive, and good-faith consultation process with the goal of restarting operations at Escobal in a manner that is mutually-agreeable to the Xinka indigenous communities included in the ILO 169 process. We have already progressed our engagement with the Xinka and other community members who are interested in productive dialogue with the Company. Once this process is complete, we look forward to a steady restart of operations at Escobal and becoming a contributing member of the Guatemalan economy once again."
About Tahoe Resources
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.
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