Tahoe Resources is a mine operator and mineral exploration and development company based in Vancouver, British Columbia. Founded in 2009 by veteran gold executive Kevin McArthur, Tahoe experienced remarkable growth in just a few years, notably with the acquisition of Lake Shore Gold of Ontario, valued at $945 million CAD. The 2016 addition of Lake Shore’s Timmins West and Bell Creek gold mines to its Escobal silver mine in Guatemala and La Arena and Shahuindo gold mines in northern Peru brought Tahoe’s estimated assets to a total of some $2 billion USD and a work force of over 2,000 people. It is a publicly traded company in the industrial metals and minerals industry, listed as TAHO on the New York Stock Exchange. The company has garnered significant attention on Wall Street for its standout income growth (called by analysts as among the strongest by any company in the industry) and consistently paying monthly dividends to shareholders. Its US headquarters are located in Reno, Nevada.
Tahoe’s flagship Escobal project is the third largest silver mine in the world and has been lauded as potentially one of the largest producers anywhere, with proven and probable high-grade reserves of 29.1 million tons containing 310.4 million ounces of silver. Its gold operations in Peru and Canada are described as low-cost and growing. Tahoe declared record silver and gold production in 2016, and capital investments in all operational areas, with long-term, large-scale initiatives in mind. The company says its strategy is to obtain and develop “tip of the iceberg” assets with considerable growth and value potential. Company operations are divided as follows (approximate): Guatemala 58%; Canada 25% and; Peru 17 %.
Tahoe Resources won the award for best sustainability in ethics and environmental governance from the Canadian Society of Corporate Secretaries in 2015. Its Escobal facility in Guatemala, however, has been the target of ongoing protests by local residents over fears of water contamination and disturbance of the area’s native and agricultural ways of life. Seven protestors were shot in a 2013 altercation, drawing statements of concern from Amnesty International. Indigenous peoples continue to challenge the company in court. For its part, Tahoe says the legal motions have no merit and that its strategy is to responsibly operate mines to world standards with a commitment to conducting its business honestly and ethically.
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