On Wednesday February 28th, Tahoe Resources’ Guatemalan subsidiary Minera San Rafael (“MSR”) made a voluntary royalty payment in the amount of 4 million Quetzales to the Municipality of San Rafael Las Flores to help pay the salaries of teachers and staff at several local schools. The payment constitutes anticipated voluntary royalties and corresponds to sales at Escobal from January to June, 2017. Maintaining its commitment to bring benefit to local municipalities, MSR provided this interim payment to assist the municipality in fulfilling its commitment to ensure continuity in local education. Although Voluntary Royalty Agreements were terminated following suspension of Escobal’s operations in July, 2017, MSR will make additional voluntary royalty payments to other regional municipalities on Friday, March 2nd. Due to the suspension, the payment of over Q50 million in voluntary royalties remains pending for the Municipalities of San Rafael Las Flores, Casillas, and Jalapa as well as for the Central Government.
The event was covered by Spanish-language media: