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Tahoe Resources declares commercial production at Guatemala flagship

Tahoe Resources declares commercial production at Guatemala flagship

Photo by Bloomberg

14th January 2014

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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TORONTO (miningweekly.com) – TSX- and NYSE-listed Tahoe Resources on Tuesday announced that it had declared commercial production at its Guatemala flagship Escobal mine.

Operations at the mine started in late September, when production had been ramping up towards the 3 500 t/d target level.

The Vancouver-based firm in October said it had started shipping silver concentrate to smelters from its Escobal mine, which was seen as a significant feat owing to the low current silver prices having driven many juniors out of the race to production.

“Our Guatemalan team has done a terrific job in delivering this world-scale silver mine within four years of the company’s initial public offering. While we continue to optimise the mill, tailings filtration and paste backfill operations, this has been a remarkable start-up for a precious metals flotation plant over a very short time period,” Tahoe president and CEO Kevin McArthur said.

Owing to declaring commercial production, McArthur added that the company had started paying Guatemalan income taxes and would start making royalty payments in the near future.

Edited by Creamer Media Reporter

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