Tahoe Reports Labor Strike at La Arena Mine
VANCOUVER, April 22, 2018 /CNW/ - Tahoe Resources Inc. ("Tahoe" or the "Company") (TSX: THO, NYSE: TAHO) reports a labor strike at its La Arena mine in Peru, which started on Friday, April 20 at 5pm CT. The Company is currently in an active collective bargaining period with the La Arena Union which occurs annually. The Union represents approximately 65% of the total workforce at La Arena. The Company recently paid the workers its annual profit sharing as defined by Peruvian Labor Law. Profit sharing is paid by all mines in Peru in strict accordance with the Labor Law. However, the La Arena Union has indicated that they want to be compensated a higher amount of profit sharing than has been established in the Labor Law.
The Company is in active dialogue with the La Arena Union and is looking forward to achieving a mutually-agreeable solution in the near-term. In the meantime, not all employees are participating in the strike and production is not currently expected to be materially and adversely impacted. The Company will provide notice once an agreement is reached.
About Tahoe Resources Inc.
Tahoe's strategy is to responsibly operate mines to world standards and to develop high quality precious metals assets in the Americas. Tahoe is a member of the S&P/TSX Composite and TSX Global Mining indices and the Russell 3000 on the NYSE. The Company is listed on the TSX as THO and on the NYSE as TAHO.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This press release contains "forward-looking information" "forward-looking information" within the meaning of Section 27A of the United States Securities Act of 1933, as amended, Section 21E of the US Exchange Act, the United States Private Securities Litigation Reform Act of 1995, or in releases made by the United States Securities and Exchange Commission, all as may be amended from time to time, and "forward-looking information" under the provisions of applicable Canadian securities legislation, concerning the business, operations and financial performance and condition of the Company. All statements, other than statements of historical fact, are forward-looking statements. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects", "is expected", "scheduled", "estimates", "forecasts", "intends", "anticipates", "believes", or variations or comparable language of such words and phrases or statements that certain actions, events or results "may", "could", "would", "should", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
Forward-looking statements include, but are not limited to, statements related to the impact of the labor strike on production at the La Arena mine and the timing and likelihood of a mutually agreeable resolution.
Forward-looking statements are based on certain assumptions and are subject known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking statements. Such assumptions, risks and uncertainties are discussed in more detail in our public filings available on SEDAR at www.sedar.com, on EDGAR at www.sec.gov or on the Company's website at www.tahoeresources.com.
Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements are made as of the date hereof and, accordingly, are subject to change after such date. Except as otherwise indicated by the Company, these statements do not reflect the potential impact of any non-recurring or other special items or of any disposition, monetization, merger, acquisition, other business combination or other transaction that may be announced or that may occur after the date hereof. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans and allowing investors and others to get a better understanding of the Company's operating environment. The Company does not intend or undertake to publicly update any forward-looking statements that are included in this document, whether as a result of new information, future events or otherwise, except as, and to the extent required by, applicable securities laws.
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SOURCE Tahoe Resources Inc.
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