Profile: Goldcorp Inc (G.TO)
6 Mar 2014
Goldcorp Inc. (Goldcorp), incorporated on December 1, 2006, is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America. As of December 31, 2012, the Company’s producing mining properties were consisted of the Red Lake, Porcupine and Musselwhite gold mines in Canada; the Penasquito gold/silver/lead/zinc mine, Los Filos and El Sauzal gold mines in Mexico; the Marlin gold/silver mine in Guatemala; the Alumbrera gold/copper mine (37.5% interest) in Argentina; the Marigold (66.7% interest) and Wharf gold mines in the United States. As of December 31, 2012, the Company’s development projects included the Cerro Negro gold project in Argentina; the Eleonore and Cochenour gold projects in Canada; the Pueblo Viejo gold project (40% interest) in the Dominican Republic; the El Morro gold/copper project (70% interest) in Chile; the Noche Buena and Camino Rojo gold/silver projects in Mexico, and the Cerro Blanco gold/silver project in Guatemala. In September 2013, Quaterra Resources Inc sold three properties in central Mexico to Goldcorp Inc.
Goldcorp also owns a 32.1% interest in Primero Mining Corp. (Primero), which is engaged in the production of precious metals with operations (primarily the San Dimas gold/silver mine (San Dimas)) in Mexico, and a 39.9% interest in Tahoe Resources Inc. (Tahoe), which is focused on the exploration and development of resource properties, with a principal objective to develop the Escobal silver project in Guatemala (Escobal).
Red Lake gold mines, Canada
During 2012, gold production was 507,700 ounces. Red Lake is located approximately 230 kilometers northwest of Dryden, Ontario. Goldcorp’s active mining operation covers approximately 2,335 hectares.
Porcupine mines, Canada
During 2012, gold production was 262,800 ounces. Porcupine consists of three mining operations: Hoyle Pond, Dome and Stockpile, which feed one processing facility. During 2012, exploration focused on the Hoyle Pond underground mine. The Porcupine mines are situated in the Porcupine Camp in Archean rocks of the western Abitibi Greenstone belt in the Canadian Shield.
Musselwhite mine, Canada
During 2012, gold production was 239,200 ounces. Ore is extracted from four zones: T-Antiform, PQ Deeps, Esker and Moose. During 2012, exploration focused on the Lynx Zone. Underground drilling extended the Lynx Zone mineralization by 175 metres northwards and 50 metres southwards and defined a small intraformational unit in the hanging wall of the surface along the upper portion of the ore body. Musslewhite mine is a fly-in/fly-out operation on the southern shore of Opapimiskan Lake in northwestern Ontario, Canada, 480 kilometers north of Thunder Bay. The property is compromised of a combination of leases and mining claim units covering a total area of 17,548 hectares, entirely on traditional First Nations land.
Penasquito mine, Mexico
During 2012, gold production was 411,300 ounces. The property lies within the eastern Mexican fold-belt consisted of folded Mesozoic clastic and carbonate sedimentary units. The Penasquito mine is located in the northeast of the State of Zacatecas in north-central Mexico, near the town of Mazapil, Penasquito is convenient to road transportation and power.
Los Filos mine, Mexico
During 2012, gold production was 340,400 ounces. As of December 31, 2012, the Los Filos mine contained 7.43 million ounces in proven and probable gold reserves. The Los Filos operation consists of two open-pit mines: Los Filos and El Bermejal and one underground mine. The Los Filos mine is located in the Nukay mining district of central Guerrero State in southern Mexico.
El Sauzal mine, Mexico
During 2012, gold production was 81,800 ounces. As of December 31, 2012, the El Sauzal contained 0.22 million ounces of proven and probable gold reserves. It is located in Chihuahua State, Mexico. El Sauzal is a disseminated oxide ore body of high-grade and gold mineralization associated with advanced argillic alteration.
Marlin mine, Guatemala
During 2012, the Company produced 207,300 ounces of gold and 8,779,100 ounces of silver. The Marlin mine is in the western highlands of Guatemala, in the municipality of San Miguel Ixtahuacan, 25 kilometers west-southwest of the town of Huehuetenango, approximately 300 kilometers northwest of Guatemala City. The Marlin Mine lies within a prospective land package of approximately 100,000 hectares that includes the main Marlin deposit.
Alumbrera mine, Argentina
During 2012, the Company produced 136,600 ounces of gold. The Alumbrera mine is located near Belen, Argentina, in Catamarca province, Alumbrera is 1,100 kilometers northwest of Buenos Aires, and six hours by paved and dirt roads from the airport at San Miguel de Tucuman.
Marigold mine, United States
During 2012, the Company produced 96,300 ounces of gold. As of December 31, 2012, Marigold contained 3.28 million ounces (Goldcorp share) of proven and probable gold reserves. The Marigold mine is a 28.9 square-mile property situated in southeastern Humboldt County, Nevada, 36 miles east of Winnemucca and four miles south of Valmy, Nevada.
Wharf Mine, United States
During 2012, the Company produced 68,100 ounces of gold. The Wharf mine is located seven kilometers west of Lead, South Dakota, in the northern Black Hills region. As of December 31, 2012, Wharf mine contained 0.58 million ounces of proven and probable gold reserves.
Cerro Negro Project
The Cerro Negro gold project is an advanced-stage vein system located in the Santa Cruz province of Argentina. As of December 31, 2012, Cerro Negro contained 5.74 million ounces of proven and probable gold reserves and the development of a feasibility study that include three newly discovered zones: Mariana Central, Mariana Norte and San Marcos.
Eleonore Project, Canada
The Eleonore project is located in the north-east corner of the Opinaca Reservoir in the James Bay region of Quebec, Canada. As of December 31, 2012, the deposit contained 3.03 million ounces of gold reserves.
Cochenour Project, Canada
The Cochenour Project combines the existing workings of Goldcorp’s historic Cochenour mine with the Bruce Channel gold discovery. The project area is five kilometers west of Goldcorp’s flagship operation, Red Lake Gold Mines, and approximately 230 kilometers northwest of Dryden, Ontario.
Pueblo Viejo Project, Dominican Republic
During 2012, Pueblo Viejo contains 25.0 million ounces of gold reserves, where Goldcorp’s interest represented 10.01 million ounces. The project is a partnership with Barrick Gold Corporation, the project operator. Pueblo Viejo is located in the Dominican Republic, approximately 100 kilometers northwest of the capital city of Santo Domingo.
El Morro Project, Chile
El Morro is an advanced stage gold/copper project in northern Chile. On a 100% basis, El Morro contains reserves of 5.84 million ounces of gold. El Morro consisted of 36-square kilometer land package. As of December 31, 2012, two principal zones of gold-copper had been identified: the El Morro and La Fortuna zones.
Camino Rojo Project
Located approximately 50 kilometers southeast of Goldcorp’s Penasquito mine, Camino Rojo’s 3,389-square kilometer land position includes the Represa deposit. As of December 31, 2012, Camino Rojo contained 1.63 million ounces of proven and probable reserves. During 2011, it completed a total of 52,665 metres drilled in 240 holes
Noche Buena Project, Mexico
The Noche Buena project is located approximately five kilometers north of the Penasquito mine. The Noche Buena project area totals approximately 24 square kilometers and is adjacent and contiguous with the northern border of the Penasquito concession block.
Cerro Blanco Project, Guatemala
The Cerro Blanco Project is located in southwestern Guatemala. As of December 31, 2012, the deposit contains 1.27 million ounces of indicated gold resources.
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