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Guatemalan mines provide a mother lode of trouble

Friday, March 2, 2018

Although it’s small and mostly poor, Guatemala sits on a heap of treasure.

Last year, it ranked as the world’s 15th-largest producer of silver, a nest egg that could yield economic growth and taxes and royalties, helping to hoist millions from misery.

So why is the Escobal silver mine, one of the world’s largest, idle? In 2014, when the Canadian-owned Tahoe Resources started production, corporate touts projected a two-decade bonanza. Now they’re facing a shuttered mine, protesters, and a lode of legal troubles.

Source: Bloomberg