Tahoe Resources
Tahoe Resources was a Canadian mining company and intermediate precious-metals producer with silver and gold operations in Canada, Guatemala, and Peru.
Last updated August 31, 2026
AI crawler reads
No AI crawler has read this profile since Oct 28, 2026.
Overview
Tahoe Resources Inc. was a Vancouver-based mining company focused on silver and gold production. It was established by Kevin McArthur, a former chief executive of Glamis Gold and Goldcorp, and developed a portfolio spanning the Americas. The company became best known for the Escobal silver mine in southeastern Guatemala, a high-grade operation that was among the largest silver-producing assets in its portfolio. It also owned the La Arena and Shahuindo gold mines in northern Peru and, after acquiring Lake Shore Gold in 2016, the Timmins West mine and Bell Creek processing complex in Ontario, Canada. Tahoe's strategy was to combine a large silver operation with producing and developing gold assets. The company acquired the Escobal project from Goldcorp in 2010 in a transaction valued at approximately US$505 million in cash and shares. Construction and underground development followed, and commercial production began in January 2014. Escobal generated substantial silver output and also contained gold, lead, and zinc. The project nevertheless became the center of severe social and legal controversy. Local opposition focused on water, environmental, agricultural, and Indigenous-consultation concerns. In 2013, security personnel associated with the project shot protesters during clashes. Tahoe's security chief, Alberto Rotondo, was arrested and charged in Guatemala, while affected residents later pursued civil litigation in Canada. In 2017, Guatemala's Supreme Court temporarily suspended the Escobal license over allegations that the Xinca people's right to consultation had not been respected. Tahoe expanded its gold business through its 2015 merger with Rio Alto Mining, which brought the La Arena and Shahuindo operations in Peru into the company. La Arena was an established gold mine with oxide and copper-gold sulfide mineralization, while Shahuindo was developed as a newer open-pit gold project. In 2016, Tahoe acquired Lake Shore Gold in a transaction valued at approximately C$945 million. The acquisition added the Timmins West underground mine, the Bell Creek underground mine and mill, and exploration potential in the Timmins mining district of Ontario. By this stage, Tahoe employed more than 2,000 people and operated across three countries. The company reported record production in 2016, including 21.3 million ounces of silver and 385,100 ounces of gold, according to the referenced company information. Its operating performance was overshadowed by the Escobal dispute, the suspension of the Guatemalan license, litigation, and reputational damage. On November 14, 2018, Pan American Silver announced an agreement to acquire Tahoe Resources for approximately US$1.1 billion. The transaction ended Tahoe's independent existence and transferred its assets to Pan American Silver. Tahoe is therefore a defunct corporate mining brand rather than an active independent producer.
History
Tahoe Resources was founded in Vancouver by Kevin McArthur and developed as an intermediate precious-metals producer. Its defining early transaction was the 2010 acquisition of the Escobal project in Guatemala from Goldcorp. Escobal was a high-grade silver deposit with associated gold, lead, and zinc. Underground development began in 2011, the exploitation license was granted in 2013, and commercial production started in January 2014. The mine quickly became Tahoe's principal silver asset. Escobal's development was accompanied by substantial opposition from nearby communities. Residents raised concerns about contamination, water use, agriculture, and the effects of mining on local life. Protests in 2013 escalated into violence when security guards connected with the project shot protesters. Tahoe's security chief, Alberto Rotondo, was arrested and faced criminal charges in Guatemala. Seven men later brought a civil action in British Columbia alleging that Tahoe was responsible for the shooting and that the violence had been ordered. The dispute became a major reputational and legal issue for the company. Tahoe broadened its portfolio in Peru. Its 2015 merger with Rio Alto Mining brought the La Arena gold mine and the Shahuindo gold project. La Arena was an established producer in northern Peru, while Shahuindo entered construction in 2015 and was expected to begin commercial production in 2016. These assets gave Tahoe a larger gold platform and reduced its reliance on Escobal silver. In 2016, Tahoe acquired Lake Shore Gold for approximately C$945 million. The deal added Ontario's Timmins West underground mine and Bell Creek mine and mill, together with exploration properties in the Timmins district. Tahoe consequently operated mines in Canada, Guatemala, and Peru and employed more than 2,000 people worldwide. The company reported record 2016 production of 21.3 million ounces of silver and 385,100 ounces of gold in the referenced material. The company's expansion was undermined by the continuing Escobal conflict. In 2017, Guatemala's Supreme Court temporarily suspended the mine's license in response to a claim that the Xinca Indigenous population had not been properly consulted. The suspension disrupted Tahoe's most important silver operation and intensified investor and stakeholder concerns. On November 14, 2018, Pan American Silver announced that it would acquire Tahoe Resources for approximately US$1.1 billion. The acquisition transferred Tahoe's assets to Pan American and brought the Tahoe Resources corporate brand to an end.
- 2018
Pan American Silver announces acquisition
[1]Pan American Silver announced an agreement to acquire Tahoe Resources for approximately US$1.1 billion.
- 2017
Escobal license temporarily suspended
[1]Guatemala's Supreme Court temporarily suspended the Escobal license over an Indigenous-consultation challenge.
- 2016
Lake Shore Gold acquisition completed
[1]Tahoe acquired Lake Shore Gold, adding the Timmins West and Bell Creek gold operations in Ontario.
- 2015
Rio Alto merger completed
[1]Tahoe completed its merger with Rio Alto Mining and acquired the La Arena and Shahuindo assets in Peru.
- 2014
Escobal reaches commercial production
[1]Commercial operations began at Escobal in January, establishing the mine as Tahoe's principal silver-producing asset.
- 2013
Escobal construction and mining controversy
[1]The Escobal exploitation license was granted, mining activity began, and violent protests created a lasting legal and reputational crisis.
- 2011
Underground development begins at Escobal
[1]Underground development work commenced at the Guatemalan silver project.
- 2010
Escobal project acquired from Goldcorp
[1]Tahoe acquired the Escobal silver project in Guatemala in a cash-and-stock transaction valued at about US$505 million.
Products and positioning
A mid-tier precious-metals mining company combining a high-grade Guatemalan silver mine with gold-producing and development assets in Peru and Canada.
Silver mine · 2014
Escobal
A high-grade underground silver mine in southeastern Guatemala, with associated gold, lead, and zinc mineralization. Development began in 2011, mining operations started in 2013, and commercial production began in 2014. Escobal was Tahoe's signature asset but was later suspended amid community conflict and an Indigenous-consultation dispute.
Gold mine
La Arena
A gold operation in northern Peru acquired through Tahoe's merger with Rio Alto Mining. The property includes oxide-gold deposits and copper-gold sulfide mineralization. It was an established producer and provided Tahoe with a major source of gold output alongside Escobal's silver production.
Gold mine · 2016
Shahuindo
A gold project in northern Peru, approximately 30 kilometers from La Arena. Construction began in 2015 after Tahoe obtained the project through the Rio Alto transaction. The deposit contained substantial oxide-gold resources and was developed as a new open-pit operation.
Underground gold mine · 2011
Timmins West
An underground gold mine west of Timmins, Ontario, acquired through Lake Shore Gold. The operation included the Timmins and Thunder Creek deposits, with the 144 Gap zone under development during Tahoe's ownership. Ore was transported to the Bell Creek mill for processing.
Gold mine and processing complex
Bell Creek Complex
An Ontario underground gold mine and processing facility acquired from Lake Shore Gold. Its conventional circuit used crushing, grinding, gravity recovery, and carbon-based leaching processes. The complex processed ore from Timmins West and offered additional resource-expansion potential.
Controversies
2017
Escobal license suspension and consultation dispute
Guatemala's Supreme Court temporarily suspended the Escobal license after a challenge alleging that the Ministry of Energy and Mines had failed to consult the Xinca Indigenous people before granting the permit.
2014
Civil lawsuit over Escobal shootings
Seven people who were shot filed a civil action in British Columbia alleging assault, aggravated assault, obstruction of justice, and corporate responsibility for the alleged conduct of the security chief.
2013
Violence surrounding the Escobal project
During protests near the Escobal mine, security guards associated with the project shot seven people. Tahoe's security chief, Alberto Rotondo, was arrested and charged in Guatemala. The incident led to allegations that company security had used excessive force against local opponents.
Brand decisions
2018
Agree to sale to Pan American SilverM&ABackground
The Escobal suspension and related controversies weakened Tahoe's independent position while Pan American sought to expand its precious-metals portfolio.
Action taken
Pan American Silver announced an agreement to acquire Tahoe Resources.
Aftermath
Tahoe ceased to operate as an independent company and its assets passed to Pan American Silver.
Announced transaction value. Approximately US$1.1 billion (November 2018)
2016
Acquire Lake Shore GoldM&ABackground
Tahoe sought greater gold production and exposure to the established Timmins mining district in Ontario.
Action taken
Tahoe acquired Lake Shore Gold in a transaction valued at approximately C$945 million.
Aftermath
Timmins West and Bell Creek became wholly owned Tahoe operations, while the company became a larger multi-country precious-metals producer.
Acquisition value. Approximately C$945 million (2016)
2015
Merge with Rio Alto MiningM&ABackground
Tahoe aimed to diversify from silver into gold and add producing and development assets in Peru.
Action taken
Tahoe announced the merger in February and completed it on April 1, acquiring La Arena and Shahuindo.
Aftermath
The transaction expanded Tahoe's gold portfolio and geographic footprint in northern Peru.
2010
Acquire the Escobal projectM&ABackground
Tahoe sought a large, high-grade silver asset capable of anchoring an intermediate precious-metals company.
Action taken
The company acquired Escobal from Goldcorp for approximately US$505 million in cash and shares.
Aftermath
Escobal became Tahoe's flagship silver mine and later its principal source of legal, political, and social risk.
Acquisition value. Approximately US$505 million (2010)
Sources1 sources
Cite this profile: Cite the canonical profile. /brand-wiki/tahoe-resources · Editorial policy · How profiles are compiled