Tahoe Resources ships first ore from Guatemala flagship
TORONTO (miningweekly.com) – TSX- and NYSE-listed Tahoe Resources has started shipping silver concentrate to smelters from its Escobal mine, in Guatemala, saying the first container of bagged concentrate was placed on a ship on Tuesday.
The company’s announcement was significant owing to the low current silver prices having driven many juniors out of the race to production.
“This small concentrate shipment represents a tremendous milestone for the company. The Guatemalan team is delivering on the promises made in 2010 to responsibly construct and operate a world-scale silver mine within three years of design, permitting and financing,” Tahoe president and CEO Kevin McArthur said.
Cash and cash equivalents on September 30, stood at $39.2-million, which Tahoe estimated would be adequate to carry the mine through to full production.
Initial mill commissioning began in September, and Tahoe expected to ramp up production to 3 500 t/d by year-end and to be in full production by early 2014. The company noted that it was currently developing the framework to determine when full production would be achieved.
The mine is expected to produce about 20-million ounces of silver in its first full year of production and Tahoe had reached agreements on commercial terms with several smelters, all of which were interested in long-term contracts.
Despite the terms of these contracts being confidential at this time, Tahoe said they were consistent with those indicated in the May 2012 preliminary economic assessment.
Comments
Research Reports
Projects
Latest Multimedia
Showroom
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Rooted in the hearts of South Africans, combining technology and a quest for perfection to bring you a battery of peerless standing. Willard...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
