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Tahoe Resources TAHO

"Tahoe Resources Inc is a mining firm. It is engaged in the operation of mineral properties for the mining of precious metals in America."


NYSE:TAHO - Post by User

Comment by guillermo1149on Jul 07, 2017 1:01pm
203 Views
Post# 26444506

RE:RE:RE:RE:Over reaction. THO should be closer to $9

RE:RE:RE:RE:Over reaction. THO should be closer to $9 https://translate.google.com/translate?sl=es&tl=en&js=y&prev=_t&hl=es&ie=UTF-8&u=http%3A%2F%2Fwww.prensalibre.com%2Feconomia%2Famcham-de-guatemala-ve-perdidas-millonarias-si-suspenden-proyectos-mineros&edit-text=

Economy

Cacif files amparo with CC for suspension of San Rafael mining licenses

Members of the Board of Directors of the Coordinating Committee of Agricultural, Commercial, Industrial and Financial Associations -Cacif- filed before the Constitutional Court an amparo against the Supreme Court's decision suspending licenses to the San Rafael mining company.

By Rosa Mara Bolaos

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Representatives of CACIF filed an amparo petition before the Constitutional Court for suspension of San Rafael mining licenses. (Photo Free Press: Erick vila)
Representatives of CACIF filed an amparo petition before the Constitutional Court for suspension of San Rafael mining licenses. (Photo Free Press: Erick vila)
 
Before the decision of the CSJ to suspend the licenses of El Escobal and Juan Bosco approved in 2013 and 2012 respectively, members of the board of directors of Cacif said that the resolution issued yesterday is incongruous with what was resolved last May by the Constitutional Court in Cases.




The members of the Cacif consider that it is an arbitrary and irresponsible decision of the justice operators and added that it is urgent to resolve these situations and the regulation to apply ar consultations because the investment is moving away, with a bad message to suspend projects.

They also reported that the value of the company's shares fell as much as 30% due to this resolution, as the company is listed on the New York and Toronto stock exchanges.

On the outskirts of the CC, workers from the mining company were presented and demanded that they be allowed to continue working.





Andrs Dvila in charge of public relations of the miner San Rafael said that they do not understand why the CSJ issued that resolution since it only indicates that the current situation is advisable is the suspension.

"The country stops receiving Q5 million per day in royalties, wages, taxes etc for a day to stop work," Davila said.

Background

Calas filed the amparo action last May, alleging that the Ministry of Energy and Mines (MEM) did not make the community consultations prior to authorizing the licenses.

"The amparo is of immediate execution, as of today the miner san Rafael must suspend its operations," said Rafael Maldonado, director of the legal area of Calas.

According to Maldonado, the MEM did not carry out the community consultations because in the places where the mining operates, there is no indigenous Xinka population, an argument that it considers without sustenance.

The representative of Calas said that the presence of indigenous Xinkas communities in Jalapa, Santa Rosa and Jutiapa is undeniable, and that even some neighbors "have titles to communal lands."

"San Rafael is a company that pollutes the environment," said Maldonado. In addition, he indicated that both the MEM and the company can submit appeals to the Constitutional Court (CC) and that this court will revoke or confirm the amparo.

 
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