Pan American Silver Corp. reached a settlement with the victims of violent protests at the Escobal silver mine in Guatemala. Details were not disclosed.
In 2014, four protesters sued then-project owner Tahoe Resources Inc., which was acquired by Pan American Silver in a US$1.07 billion deal in February, after being injured in a shooting by the property's security guards. Escobal faced opposition due to Tahoe's lack of community consultation over the operation.
In a July 30 release, Pan American Silver apologized to the victims and to the local community affected by the 2013 incident. It also noted that the resolution of the lawsuit will not prevent their right to protest against the mine in the future.
The controversial Escobal mine has been suspended since June 2017 following a review of the company's licenses. During the shutdown, Tahoe laid off most of the operation's 1,030-member workforce.