Canadian Mining Journal


Escobal is Tahoe’s ‘solid foundation,’ CEO says

Tahoe Resources (TSX: THO; NYSE: TAHO) has made a recent foray into the gold industry with a pair of acquisitions, but the asset that has fuelled its rise, and continues to lay the financial foundation for growth, is the world-class Escobal silver mine, 40 km southeast of Guatemala City. The company ramped up the operation’s mill circuit in 2015, and Escobal remains a major contributor to its strong cash flow. …

Silver produced in concentrate at Escobal was 5.5 million oz during the fourth quarter and 20.4 million oz for the year, with total cash costs, net of by-product credits, pegged at US$6.16 per oz. Average mill throughput was 4,133 tonnes per day, while annual silver head grades averaged 487 g/t.

Tahoe completed an expansion to boost Escobal’s throughput by 1,000 tonnes to 4,500 t/d in 2015. The US$52-million investment was straightforward and low risk because Tahoe had factored the larger mill footprint into its initial mine development. As a result, no upgrades were required for major equipment.

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