Guatemalan Constitutional Court Reverses Supreme Court Ruling to Reinstate Escobal Mining License
04 Settembre 2018 - 6:29AM
Business Wire
Mandates Completion of ILO 169 Consultation
Process Before License Can Be Reinstated
Tahoe Resources Inc. (“Tahoe” or the “Company”) (TSX:
THO, NYSE: TAHO) reports that it has learned through a Guatemalan
Constitutional Court Press Conference held today that the
Constitutional Court reversed the Supreme Court’s decision to
reinstate the Escobal mining license of Tahoe’s Guatemalan
subsidiary, Minera San Rafael (“MSR”). We understand that the
Constitutional Court’s resolution orders that the Escobal mining
license will remain suspended until the Ministry of Energy and
Mines (“MEM”) completes the ILO 169 consultation with the Xinka
communities in the region of the Escobal mine. At this time, the
Company does not have a timeline for completion of MEM's ILO 169
consultation. However, in the similar case of OXEC, MEM completed
the consultation within 6 months.
The Constitutional Court is expected to issue a formal
resolution in the next several days. Upon review of the written
ruling, the Company will provide further updates.
About Tahoe Resources Inc.
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.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This press release contains “forward-looking statements” within
the meaning of Section 27A of the United States Securities Act of
1933, as amended, Section 21E of the US Exchange Act, the United
States Private Securities Litigation Reform Act of 1995, or in
releases made by the United States Securities and Exchange
Commission, all as may be amended from time to time, and
"forward-looking information" under the provisions of applicable
Canadian securities legislation, concerning the business,
operations and financial performance and condition of the Company.
All statements, other than statements of historical fact, are
forward-looking statements. Generally, these forward-looking
statements can be identified by the use of forward-looking
terminology such as “plans”, “expects”, “is expected”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, “believes”, or
variations or comparable language of such words and phrases or
statements that certain actions, events or results “may”, “could”,
“would”, "should", “might” or “will be taken”, “occur” or “be
achieved” or the negative connotation thereof. Forward-looking
statements include, but are not limited to, statements related to
the Guatemalan Constitutional Court’s announcement of a formal
resolution regarding Escobal’s mining license, the requirement that
MEM complete ILO Consultation before the mining license can be
reinstated, and the Company’s plans for further updates.
Forward-looking statements are based on certain assumptions and
are subject to known and unknown risks, uncertainties and other
factors that may cause actual results to be materially different
from those expressed or implied by such forward-looking statements.
Such risks include the timing for completion and results of the
proposed ILO 169 Consultation with the Xinka communities in the
region of the Escobal mine.. Assumptions, risks and uncertainties
are discussed in more detail in our public filings available on
SEDAR at www.sedar.com, on EDGAR at www.sec.gov or on the Company’s
website at www.tahoeresources.com.
Although management has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that forward-looking statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such forward-looking
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. Forward-looking statements are made as
of the date hereof and, accordingly, are subject to change after
such date. Except as otherwise indicated by the Company, these
statements do not reflect the potential impact of any non-recurring
or other special items or of any disposition, monetization, merger,
acquisition, other business combination or other transaction that
may be announced or that may occur after the date hereof.
Forward-looking statements are provided for the purpose of
providing information about management’s current expectations and
plans and allowing investors and others to get a better
understanding of the Company’s operating environment. The Company
does not intend or undertake to publicly update any forward-looking
statements that are included in this document, whether as a result
of new information, future events or otherwise, except as, and to
the extent required by, applicable securities laws.
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Tahoe ResourcesAlexandra Barrows, Vice President Investor
Relationsinvestors@tahoeresources.com+1.775.448.5812
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