Guatemala: Silver Mine Estimate Grew 144%

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

Tuesday, November 30, 2010

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.

The company expects to make the final decision to build in 2012 and may start producing in late 2013.

"We are focusing on completing permits and feasibility studies pending," said Kevin McArthur, CEO of Tahoe, adding that at current prices, the initial investment ($ 326 million) should be recovered in a year.

More on this topic

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.

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.

Environmental Permit Granted to Tahoe Mining in Guatemala

February 2011

Tahoe Resources announced that the Environmental Impact Study for the Escobal mine project has been approved by the corresponding authorities.

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

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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