Tahoe Resources terminates approx. 200 additional Minera San Rafael employees
Tahoe Resources regrets to announce a further reduction to Minera San Rafael's workforce at its Escobal Mine in Guatemala. The Guatemalan Constitutional Court heard the appeals of the Supreme Court's decision to reinstate the Escobal mining license on October 25, 2017. According to Guatemalan law, the Constitutional Court must rule within five calendar days of the public hearing. At this time, however, the Constitutional Court has yet to rule and the Company cannot at this time predict when it will issue its ruling. Given the ongoing delay in the Constitutional Court's ruling, the lack of transparency into the status of the legal process, and the inability of the company to resume mining operations, the company terminated approximately 200 additional Minera San Rafael employees today. Including today's termination, about 70% of the total workforce has now been dismissed. Prior to the license suspension, Minera San Rafael employed 1,030 people, 97% of whom are Guatemalan and 50% of whom are from the Santa Rosa region. Tahoe continues to believe that legal precedent in Guatemala supports the reinstatement of the Escobal mining license and the resumption of operations, at which time Tahoe will seek to restore its workforce. Tahoe is eager to resume operations at Escobal in order to return benefit to employees, communities and the region. Since the license suspension in July 2017, more than $50M in taxes and royalties that might otherwise have been earned during this period have not been paid to the Government of Guatemala and the local communities.