From Coffee Town to Mining Town

Construction of the silver mine, el Escobal, by Tahoe Resources has brought banks, restaurants, a hotel and other businesses providing goods and services to the town of San Rafael Las Flores, Guatemala.

Friday, July 20, 2012

According to an article in Elperiodico.com.gt, "El Escobal, located in San Rafael Las Flores, Santa Rosa, is considered one of the largest silver deposits in Central America, with reserves of more than 300 million ounces, as well as containing lead, zinc and gold. The company Minera San Rafael, a subsidiary of Tahoe Resources, will operate the project for 4 years and expects to initiate the exploitation work in mid-2014. "

It is estimated that over 25 years the mine will produce over 300 million ounces of silver, "as well as lead, zinc and gold."
The planned investment for construction is $325 million, which will have a decisive impact on the town of San Rafael, now the core of the economy and consumption by the more than 1000 workers building the mine.

Camilo Medina, manager of Foreign Affairs at the mine, said that "70 percent of mine workers are local, 25 percent belong to other municipalities and only 5 percent are experienced foreign miners from Mexico, Honduras, the United States and Australia ".

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More on this topic

Guatemala: Lead mine starts Operations

May 2014

In the first quarter sales abroad of lead totaled $83 million, due to the operation of the San Rafael mine, which extracts silver, lead, zinc and gold.

In eighth place out of the top 25 export products of the country, foreign sales of lead in the first three months of 2014 were equivalent to $83 million, while in the same period in 2013 the figure was just $1.5 million , according to the Bank of Guatemala.

El Escobal Mine Waiting for Operating License

May 2012

Tahoe Resources, the Canadian company which bought the project from Goldcorp, has announced an investment of $500 million to extract the 300 million ounces estimated at the site.

Tahoe Resources executives are only waiting for the Ministry of Energy and Mines (MEM) to authorize the operating license of the mineral project Escobal, in San Rafael Las Flores, Santa Rosa, in order to accelerate construction of a plant.

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.

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