Goldcorp Inc. | Company Profile

About The Company

Goldcorp is a leading gold producer engaged in gold mining and related activities including exploration, extraction, processing and reclamation.  The Company’s operating assets include the Red Lake, Porcupine and Musselwhite gold mines in Canada, the El Sauzal, Los Filos and San Dimas gold/silver mines in Mexico, the Marlin mine in Guatemala, the Marigold mine (67% interest) and Wharf mine in the United States and the Alumbrera mine (37.5%) in Argentina.  Over 70% of Goldcorp’s reserves are in low political risk NAFTA countries.   

Goldcorp has a solid pipeline of projects including the Eleonore gold project in Quebec, Canada, Peñasquito project in Zacatecas, Mexico and the Pueblo Viejo project (40% interest) in the Dominican Republic.  These valuable assets, along with several others, will allow for growth in production for years to come.

Over a short period, Goldcorp has grown from a strong intermediate player to one of the top senior gold producers in the world.  Our growth profile is unmatched in the mining industry with a 50% increase in gold production over the next five years.

The Projects

Red Lake (Canada)

The Red Lake Gold Mine is composed of two operating complexes:  the Red Lake Complex and the Campbell Complex.  Red Lake Gold mine is Canada’s largest gold mine, and in 2008 produced 629,000 ounces. It is also one of the world’s richest gold mines and lowest cost producers. 

Red Lake Gold Mines are located in the Canadian Shield of Northwestern Ontario, Canada, 180 kilometres north of Dryden. They cover approximately 2,335 hectares within the District of Kenora in Northwestern Ontario.  The Red Lake Municipality is comprised of the towns, Madsen and McKenzie Island, Red Lake, Cochenour, Starratt Olsen, Flat Lake and Balmertown. The Municipality of Red Lake has a population of approximately 5,500. 

The area is accessible by Highway 105, which joins the Trans Canada Highway at Vermilion Bay, east of Kenora. Commercial air services from Thunder Bay and Winnipeg are available with several flights daily to each community. The terrain in the vicinity of the mine at Red Lake is gently rolling with various forms of glacial cover.

The Red Lake area provides some of the best fishing and hunting in the province. Thousands of lakes, beaches, lush rolling forests and abundant wildlife enhance the area. Much of the region is still untouched and is accessible only by air or canoe.

The weather is generally fair with warm summers and cold winters. The temperature in July is +25 Celsius, with 62 mm of precipitation. In January it is -20 Celsius, with an average snow accumulation of 35 cm. The days are short in winter, but long and pleasant in the summer months.

Alumbrera Project (Argentina)

Minera Alumbrera Limited is one of the world’s largest and lowest cost gold and copper operations. Located in north western Argentina, Alumbrera was the country’s first and largest major mining development in the modern era. Goldcorp owns a 37.5% interest in Alumbrera mine with Xstrata an Yamana as joint venture partners.

Porcupine Project (Canada)

Goldcorp acquired the Porcupine gold mines from Placer Dome in May 2006 and in September 2007, Goldcorp entered into a binding agreement with Kinross Gold Corporation to acquire Kinross' 49% share of the Porcupine gold mines.  Porcupine is now 100% owned and operated by Goldcorp.  The operation consists of three operating gold mines and a central milling facility within the city of Timmins in northeastern Ontario. The properties have produced more than 64 million ounces of gold since production began in 1910 and include North America’s longest continually operating gold mine. The operating properties, combined with extensive and highly prospective land holdings, are strategically located in one of the world’s great gold producing camps.

With existing mineral reserves, the Porcupine Mine has an expected mine life through to 2016.  In 2008, gold production amounted to 291,000 ounces. 

Musselwhite Project (Canada)

Musselwhite is principally an underground gold mine and associated processing plant producing nearly a quarter of a million ounces of gold annually.  The mine is situated in northwestern Ontario, Canada and as of December 21, 2007 is  100% owned by Goldcorp Inc.  Previous to this Goldcorp was 68% owner and operator and Kinross Gold Corporation held a 32% interest in the mine. Musselwhite has established an innovative agreement with the First Nation people which provides for a range of education, training, employment and business related services for local communities.

With existing mineral reserves, the Musselwhite Mine has an expected mine life through to 2016.  Gold production for 2008 totaled 210,000 ounces.

El Sauzal Project (Mexico)

El Sauzal is a conventional open pit, oxide milling operation which achieved commercial production in December 2004.  Construction of a heap leach pad was initiated during 2006.  Exploration and testing is ongoing in area surrounding the El Sauzal deposit and shows strong potential for increasing reserves.

Los Filos (Mexico)

The Los Filos mine consists of two open pit mines (Los Filos and El Bermejal) with common heap leach, wet plant and ancillary facilities.  Los Filos is located in the Nukay mining district of central Guerrero State in southern Mexico. Commercial production for Los Filos commenced January 1, 2008.  

Gold production for 2008 totaled 214,000 ounces.  Los Filos is forecast to produce an average of 300,000 ounces of gold per year.

For more detailed information about the projects and the company in general, please visit the website of Goldcorp!

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