Jan 8 Canada's Goldcorp said late on
Wednesday that its annual gold production could rise up to 18
percent even as it expects to rein in costs over the next two
Goldcorp, one of the world's biggest gold miners, said it
expects to produce between 3.0 and 3.15 million ounces of gold
in 2014, an increase of 13 to 18 percent.
The company said it expects annual capital expenditures of
between $2.3 billion and $2.5 billion, of which about 60 percent
is allocated to projects and 40 percent to operations.
The company also said it produced 767,700 ounces in the
fourth quarter, resulting in 2013 gold production of 2.67
million ounces, an increase of 11 percent over the year-earlier
Cash costs for 2014 are expected at between $950 and $1,000
per ounce compared with the 2013 average of $885 and $1,065 per
Goldcorp said is expects cash costs to decrease by 15 to 20
percent over the next two years, positioning the company for
continuing improved margins and free cash flow growth.