Tahoe Resources

Tahoe Resources Inc.
Company typePublic
IndustryMetals and Mining
Founded2009
FounderKevin McArthur
FateAcquired by Pan American Silver
Headquarters
Reno, Nevada
,
U.S[1]
Key people
Kevin McArthur (chairman)[2]
RevenueIncreaseUS$519.7 million (2015)[3]
DecreaseUS$-79.5 million (2015)[3]
DecreaseUS$-71.9 million (2015)[3]
Total assetsIncreaseUS$2.0 billion (2015)[3]
Total equityIncreaseUS$1.6 billion (2015)[3]
Websitewww.tahoeresources.com

Tahoe Resources Inc. was a mining company and intermediate precious metals producer with silver and gold mines in Canada, Guatemala and Peru. It was founded in Vancouver, British Columbia by Kevin McArthur, former CEO of Glamis Gold and Goldcorp. Incorporated in British Columbia, Canada, the company's U.S. headquarters is located in Reno, Nevada.

In 2016, the company acquired Lake Shore Gold in Ontario, valued at $945 million CAD, making it a wholly owned subsidiary of Tahoe Resources and effectively adding Lake Shore's Timmins West and Bell Creek gold mines in Ontario to Tahoe Resources' assets,[4] which include mines in Guatemala and Peru. The company employs more than 2,000 people worldwide.[5] Tahoe Resources is a publicly traded company in the Industrial Metals and Minerals industry, listed on the New York Stock Exchange and the Toronto Stock Exchange.[6]

In 2017, Tahoe Resources was accused of using the "Guatemalan police and army violence to force its mining operation on the local communities."[7] Tahoe is facing a criminal trial in Guatemala and a civil lawsuit in Canada for previous cases of alleged repression.

On 14 November 2018, it was announced that Pan American Silver would be acquiring Tahoe Resources for $1.1 billion.[8]

  1. ^ "About Tahoe Resources Inc. – Tahoe Resources Inc., New Leader in Precious Metals". www.tahoeresources.com.
  2. ^ Cite error: The named reference Tahoe Resources Management Team was invoked but never defined (see the help page).
  3. ^ a b c d e "TAHO Income Statement – Tahoe Resources, Inc. Ordinary Stock – Yahoo Finance". finance.yahoo.com.
  4. ^ Jamasmie, Cecilia (Feb 8, 2016). "Tahoe Resources adds Canadian gold mines to portfolio by buying Lake Shore". Mining.com. Retrieved Sep 20, 2016.
  5. ^ "Tahoe Resources Annual Information Form for the year ended December 31, 2015" (PDF). TahoeResources.com. Tahoe Resources, Inc. March 9, 2016. Retrieved March 22, 2016.
  6. ^ "Investor FAQs | Tahoe Resources Inc., New Leader In Precious Metals". www.tahoeresources.com. Retrieved 2016-03-15.
  7. ^ "Tahoe Resources & more violence in Guatemala: Business as usual". Rights Action. Retrieved 2017-06-26.
  8. ^ Taylor, Susan. "Pan American Silver offers $1.1 billion to buy out Tahoe". Reuters. Retrieved 2018-11-17.