ESG

Troubled Tahoe suspends La Arena

A bad week got worse for troubled Tahoe Resources (TSX: THO) after a protest prompted it to suspend mining operations at its La Arena gold mine in Peru from Thursday’s night shift.

Staff reporter
Protest prompts suspension at Peru gold mine

Protest prompts suspension at Peru gold mine

The company said up to 100 people from the nearby La Ramada community illegally trespassed onto the property, disrupted operations and demanded payment for the alleged impact of blasting activities.

The protest comes just days after Tahoe discovered an attempted theft at the gold mine, with thieves understood to have cut five holes in a pipeline and placed five bags of carbon inside to absorb gold from the solution. 

Less than a week earlier, the company reported 12 of its security contractors had been kidnapped for several hours in Guatemala where its flagship Escobal silver mine remains in legal limbo.

Back in Peru, Tahoe said the protest was in response to meetings the company had held with community members who were demanding monetary compensation for the alleged impact of dust and vibrations from blasting.

It said La Arena conducted "extensive and regular monitoring" of the impacts from the mine blasts and the results demonstrated clear compliance with the law and the environmental quality standards.

"The company remains willing to engage in a peaceful and constructive formal dialogue process with the La Ramada residents and has reaffirmed its commitment to continue its efforts to minimise the impacts of the operations on the community," Tahoe said.

The company said it had filed formal charges against the protest leaders for illegal trespass and had also notified authorities.

It said it suspended mining operations to ensure the safety of employees, contractors and members of the community but said leaching activities continued normally "at this time".

Its shares hit a fresh 52-week low intraday of C$4.435 on Friday and closed down 1.1% to $4.49.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.