Guatemalan Constitutional Court Resolution Finalized, Allows Commencement of ILO 169 Consultation
10 Ottobre 2018 - 11:21PM
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.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news 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 United States Exchange Act of
1934, as amended, the United States Private Securities Litigation
Reform Act of 1995, or in releases made by the United States
Securities and Exchange Commission, and “forward-looking
information” under the provisions of applicable Canadian securities
legislation. Such forward-looking statements include the statement
related to the expected time to complete the review stage of the
ILO 169 consultation process, also referred to as Stage 1.
Forward-looking statements are necessarily based upon a number
of factors and assumptions that, if untrue, could cause the actual
results to be materially different from future results expressed or
implied by such statements. Such assumptions include the assumption
that the Stage 1 review process to review, define, and recommend
the area of influence to MARN can be carried out without any
further delay, such as further court challenges or delays in
bringing together and completing the joint work of the
environmental consultant and experts at the two Guatemalan
universities.
Forward-looking statements 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. Tahoe 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 in accordance with
applicable securities laws.
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Alexandra Barrows, Vice President Investor RelationsTahoe
Resourcesinvestors@tahoeresources.com+1.775.448.5812
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