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Artigo

10 Ago 2016

Author:
TeleSurTV.net

Guatemalans' Fight Against Rogue Canadian Mining Giant Heats Up

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...[O]rganizations call for the SEC to consider whether Tahoe omitted facts necessary for investors to assess the risk of the Escobal mine, including secret local legal action to suppress opposition to the mine, and failed to disclose information about human rights concerns. Depending on what the agency decides, Tahoe could face forced disclosure or personal liability for executives over the company's negligence with reporting key facts. Tahoe Resources...has repeatedly faced criticism over its abysmal human rights record and contempt for community opposition in its operations at the Escobal mine through its wholly-owned Guatemalan subsidiary Minera San Rafael. The mine has faced considerable resistance, including sanctioned referendums in seven surrounding municipalities in the last five years, in which communities voted between 95 and over 99 percent against mining activities...The complaint also calls for the SEC to look into Tahoe’s financial status as a Canadian foreign private issuer in the United States. As Imai explained, Canada reporting requirements are much more lax than in the United States. Tahoe itself has written in its annual report that its "regulatory and compliance costs" would be "significantly more" as a U.S. domestic issuer...

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