Environmental Permit Granted to Tahoe Mining in Guatemala

©image: Tahoe Resources

The start of construction is scheduled for May 2012, subject to obtaining all necessary permits. Production should begin in late 2013.

The company expects to produce in the first 5 years 20 million ounces of silver per year, at a cost of less than $ 3 per ounce of silver.

The project will employ 800 people during construction and will hire more than 500 during the 18 years of estimated operation.

Source: Tahoe Resources Inc.

More on this topic

Silver Mine in Guatemala is Making Good Progress

March 2012

The Canadian company Tahoe Resources, which owns the Escobal silver mine, has announced that it has all of the funding and the project will start on time.

According to plan, the mine should begin operating in early 2014 and produce 317 million ounces of silver for 18 years, said Kevin McArthur, CEO of Tahoe.

Guatemala: Silver Mine Estimate Grew 144%

November 2010

Tahoe Resources, which owns the Escobal silver mine project, announced that indicated resources at the mine increased 144%.

In the press release, the company explained that according to new measurements, there are 245 million ounces at an average gradient of 500 grams per ton; the mine could produce 19 million ounces of silver in their first 5 years of operation at a cost of less than $ 3 an ounce.

Guatemala: world class silver mine

September 2010

Minning project Escobal could rival Mexico's Fresnillo, the largest silver mine of the world.

The Escobal silver project in Guatemala may one day equal the Fresnillo mine – the world's biggest producer of the precious metal – Tahoe Resources CEO Kevin McArthur said on Monday.

Guatemala: Goldcorp Sells Escobal Mine for $253 Million

June 2010

Goldcorp INC. announced today the completion of its sale of the Escobal silver deposit in Guatemala to Tahoe Resources Inc. ("Tahoe").

Pursuant to the terms of the transaction, Goldcorp received an aggregate of 43,686,667 common shares of Tahoe, representing 40% of Tahoe's issued and outstanding common shares on a fully-diluted basis and $253 million in cash.