[The Network in Solidarity with the People of Guatemala (NISGUA) urges concerned citizens to join them in a call for American and Canadian financial institutions to divest from Tahoe Resources.]
On May 8, Tahoe Resources announced $24.8 million in first quarter net earnings since starting production at the Escobal mine in January. These gains have come at a grave cost. Ongoing violence, open criminal cases and documented environmental concerns are the dark side of these profits. Tahoe is a spin-off of Goldcorp Inc., as the latter holds 40% of Tahoe’s shares. Most of the company’s directors are current or former Goldcorp executives.
The Escobal mine, Tahoe’s only project, was approved without the free, prior and informed consent of the surrounding communities and continues to lack the social license to operate. Tens of thousands of people have voted against the mine in 14 community consultations to date. Tahoe and the Guatemalan government continue to dismiss community voices and decision-making processes.
As the project ramped up toward production so did repression, criminalization and violence against prominent leaders opposing the mine. In 2012, Tahoe sued the Guatemalan government for failing to protect its operations from social protest. A year later, a state of siege was declared in four municipalities surrounding the mine, halting ongoing community referenda, instilling fear in the population and undermining local organizing. Heightened militarization of the communities continues.
Join us in calling on U.S. and Canadian financial institutions to divest from Tahoe Resources. Our action targets two major Tahoe shareholders, TIAA-CREF and the Canada Pension Plan. Together, they provide retirement and other financial services to over 20 million U.S. and Canadian residents.
TAKE ACTION: Tell U.S. based TIAA-CREF and the Canada Pension Plan that Guatemalan communities say no to Tahoe Resources, and they should too!
Not invested in TIAA-CREF or not paying into the Canada Pension Plan? You can still take action! Want to do more? Contactorganizer@nisgua.org to receive an information packet on how to contact other Tahoe investors.
Megan Whelan & the NISGUA team