Tahoe Resources reaches truce with Peruvian protesters, resumes work at gold mine

Tahoe Resources reaches truce with Peruvian protesters, resumes work at gold mine

VANCOUVER — Tahoe Resources Inc. has restarted its La Arena gold mine in Peru following an agreement to end a protest and begin a formal dialogue to resolve complaints raised by members of the community of La Ramada.

The Vancouver-based metals miner said Friday talks between Tahoe Peru and protesters would be hosted by the government’s mines ministry.

Work at the mine had been suspended for eight days starting on Aug. 30 due to protests by an estimated 80 to 100 people from La Ramada.

The company said previously that community members demanded monetary compensation for the alleged impact of dust and vibration from blasting at La Arena, which is three kilometres from La Ramada.

Tahoe said Friday it now expects La Arena’s annual production this year will be at the low end of its estimated range of 160,000 to 185,000 ounces of gold due to the combined impact of the recent suspension and a labour strike in the second quarter.

The company’s stock has been trading near multi-year lows since the share price dropped 38 per cent on Tuesday after Guatemala’s constitutional court upheld the suspension of the licence for its Escobal silver mine.

That reversed a Supreme Court decision that had re-instated the licences, which were suspended by the government’s Ministry of Energy and Mines in order to conduct environmental consultations with a local community.

 

Companies in this story: (TSX:THO)

The Canadian Press

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