February 9, 2011 / 11:19 PM / 8 years ago

UPDATE 1-Goldcorp says gold reserves rose 23 pct

* Proven, probable reserves up 23 pct to 60.1 mln oz

* Measured, indicated reserves up 13 pct to 25.7 mln oz

* Increased exploration, acquisitions have driven growth

TORONTO, Feb 9 (Reuters) - Canada’s Goldcorp (G.TO) said on Wednesday it increased its proven and probable gold reserves in 2010 by 23 percent to 60.1 million ounces.

Vancouver, British Columbia-based Goldcorp also said its measured and indicated gold resources increased 13 percent to 25.7 million ounces in 2010, following recent discoveries at its gold projects in Argentina and Canada.

“Strong growth in reserves and resources in 2010 underscores the continued success of Goldcorp’s strategy to complement organic growth in our existing districts with disciplined acquisitions,” said Chief Executive Chuck Jeannes, in a statement.

Goldcorp acquired Argentina-focused Andean Resources in a C$3.6 billion deal in the latter part of 2010. The company said recent vein discoveries at Andean’s Cerro Negro project helped to nearly double gold reserves and resources at the site. (Reporting by Euan Rocha)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below