Tahoe Resources cuts ~250 employees at Escobal mine in Guatemala [Seeking Alpha]
TAHOE RESOURCES (TAHO)
Last tahoe resources earnings: 11/6 04:05 pm
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tahoeresources.com/investor-relations
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Source: Seeking Alpha
Tahoe Resources cuts ~250 employees at Escobal mine in GuatemalaTahoe Resources (TAHO-3.4%) is lower after saying yesterday that it willlay off ~25% of employees at its Escobal silver mine in Guatemala because of uncertainty over whether the company will have its mining license for the site reinstated.The Escobal license was provisionally suspended by Guatemala’s Supreme Court in July after an anti-mining organization alleged that the country’s mining ministry had not consulted with an indigenous group before awarding it to Tahoe.Tahoe says the mine employed more than 1,000 people before the suspension; it says the need for job cuts could be eliminated if the court decides to reinstate the license in the next several weeks.See all stocks on the move »Now read:'Safer' Dividend S-M-L MoPay Gains Are By 6 REITS, 2 Financials, 1 Health, 1 Utility To 12/19/18 »
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