Tahoe shares surge as Escobal licence reinstated [Business News Network (BNN) Energy & Resources (Canada)]
TAHOE RESOURCES (TAHO)
Last tahoe resources earnings: 11/6 04:05 pm
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Source: Business News Network
Tahoe shares surge as Escobal licence reinstated Tahoe Resources surged in early trading Monday after Guatemala's Supreme Court reinstated the company's licence for its Escobal mine. The decision marks the latest twist in a saga that has battered shares in Tahoe Resources ( THO.TO ). Last month the Constitutional Court, Guatemala's top court of law, upheld a lower tribunal's preliminary decision to suspend the two mining licences over whether the indigenous community had been properly consulted by San Rafael. Escobal is one of the world's largest silver mines and the mining licences have been suspended since July 5 following a complaint by an environmental group about the consultation. Related to the court's latest ruling, Guatemala's ministry of energy and mines will carry out consultations with Xinca indigenous groups. Tahoe cautioned on Monday that it expects several groups might appeal the Supreme Court's decision. The miner also said there's an ongoing roadblock, making it imposs
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