Archive | Goldcorp Inc.

Eight-year-old becomes miner for a day at Goldcorp’s Porcupine mines – by Kelsey Rolfe (CIM Magazine – November 1 2018)

Aliesha underground with Goldcorp’s Hoyle Pond miners. (Goldcorp Photo)

At Goldcorp’s Porcupine Gold Mines in Timmins, it is company practice to call out “fire in the hole” in the 90 seconds before a blast is detonated. But last week the mine manager allowed an exception to the rule for eight-year-old Aliesha, whose enthusiastic cry of “dynamite!” went out over the radio at the Hollinger open-pit mine in the seconds before the blast went off.

Aliesha visited Hollinger, Dome and Hoyle Pond in Timmins last week thanks to the Toronto and Central Ontario Make-A-Wish Foundation. The foundation asked her for three wishes, and her first pick was to visit a mine.

“That’s the one thing everyone’s blown away by,” said her father Dave. The family’s surname is not being published for reasons of privacy. “It’s been a little over three years now that she’s been fully obsessed with mining. The school projects that she does, somehow she makes them revolve around mining.” Continue Reading →

Feds kick in $5M for ‘innovative’ all-electric Borden Mine – by Len Gillis (Timmins Daily Press – October 29, 2018)

With Goldcorp betting hundreds of millions of dollars on the future of its new Borden Lake gold mine project near Chapleau, the federal government has chipped in with $5 million to show its faith in the project and others like it.

CHAPLEAU – With Goldcorp betting hundreds of millions of dollars on the future of its new Borden Lake gold mine project near Chapleau, the federal government has chipped in with $5 million to show its faith in the project and others like it.

Federal Natural Resources Minister Amarjeet Sohi toured the new mine facility on Monday with Goldcorp officials and technical representatives of the mining equipment manufacturers who are working to make it the first all-electric underground mine in Canada, which is considered a major environmental improvement for the mining industry. Continue Reading →

‘Another failed gold company’: Goldcorp and other miners face investor fury amid tepid gold prices – by Gabriel Friedman (Financial Post – October 26, 2018)

Investors are increasingly showing impatience with mining companies, as Vancouver-based Goldcorp Inc. learned on Thursday

As gold prices have stagnated in the second half of 2018, never matching the US$1,300 per ounce price that dominated the first six months of the year, investors have increasingly shown impatience with mining companies, as Vancouver-based Goldcorp Inc. learned on Thursday.

With a $101 million loss in the third quarter, compared to $111 million profit the previous year, the company’s stock fell 18.40 per cent to $11.09 Thursday — a price it hasn’t closed at since 2001.

The first 30 minutes of Goldcorp Inc.’s quarterly earnings call on Thursday proceeded without mention of the stock trouble until one analyst suddenly unleashed on the company’s management. Continue Reading →

Goldcorp’s ‘Miserable Quarter’ Sends Shares to 16-Year Low – by Joe Deaux (Bloomberg News – October 25, 2018)

Goldcorp Inc. tumbled to the lowest since 2002, the steepest decline among senior gold producers, a day after reporting a bigger-than-expected third-quarter loss.

The Vancouver-based miner posted a net loss of 12 cents a share, wider than the average analyst estimate for a loss of 10 cents. Operating results were hurt by lower output of all metals from the company’s Peñasquito mine, while costs climbed.

The results were a “clear disappointment” and the company will have to deliver on its fourth-quarter guidance of 620,000 ounces to prove to investors it is at an inflection point, Andrew Kaip, an analyst at BMO Capital Markets, said in a note. Continue Reading →

Editorial: Gold majors jostle for attention in Denver – by John Cumming (Northern Miner – October 9, 2018)

Northern Miner

The pecking order within the global gold mining industry is never more on display each year than at the Denver Gold Forum in September, with miners and developers of all sizes converging to capture the attention of big investors.

After a tough several years that saw the near wholesale changeover amongst execs of the top gold miners, the presidents and CEOs that presented were a familiar bunch.

In its presentation this year, Newmont Mining, the world’s largest gold mining company — at least for now — highlighted that it is already five years into its sweeping, companywide plan to create long-term value. Continue Reading →

[Yukon Mining] Coffee Gold project prepares for 2021, with support of Tr’ondek Hwech’in – by Philippe Morin (CBC News Canada North – September 13, 2018)

First Nation says Coffee Gold owner Goldcorp is hearing its concerns

Leaders from Yukon’s Tr’ondek Hwech’in First Nation got a tour of Goldcorp’s Coffee Gold project near Dawson City this week — and so far, they like what they’ve seen. The exploration camp at Coffee Creek, about 130 kilometres south of Dawson City, is a busy place these days, with crews already working in shifts 24-hours a day.

In a few years, it could be even busier — Goldcorp is proposing to open a large-scale gold mine by 2021, employing hundreds of people. The project is still under review by the Yukon Environmental and Socio-economic Assessment Board (YESAB).

The Tr’ondek Hwech’in First Nation is now on board with the project. Last April, it signed a “collaboration agreement” with Goldcorp, which includes a number of benefits for the First Nation — such as jobs, contracts, and training for First Nation citizens. Continue Reading →

Coffee mine proposal clears information adequacy stage – by Julien Gignac (Yukon News – September 5, 2018)

Yukon News

Yukon Environmental and Socio-economic Assessment Board (YESAB) says it now has adequate information about Goldcorp’s proposed Coffee gold mine to proceed to an assessment.

A public comment period opened late last month and will close on Oct. 15, after which the public will have the opportunity to parse through a draft report. This development marks a big shift in a roughly two-year saga.

The mining company had an incomplete proposal package until this point. The board found that the company didn’t properly consult with First Nations, nor did the board have adequate information to move ahead. But now it does. Continue Reading →

Goldcorp continues the plunge into mine development – by Staff (Northern Ontario Business – September 6, 2018)

Goldcorp reports it’s made major strides in reaching various milestones with its mine construction projects in Chapleau and Timmins. The Vancouver gold miner issued a Sept.4 news release outlining its progress ahead of a Sept.6 conference call.

“We continue to be impressed with our team’s execution as we advance projects on time and on budget through the permitting and development process,” said David Garofalo, Goldcorp president-CEO in a statement.

The company maintains it has a strong pipeline of mine projects coming on stream to build up its gold reserves and boost production over the next decade while cutting costs at its existing operations. Continue Reading →

Goldcorp supports the City’s Indigenous Advisory Committee – by Len Gillis (Timmins Daily Press – August 31, 2018)

The largest gold mining company in Timmins is providing financial support to the city’s new Indigenous Advisory Committee. Goldcorp Porcupine Gold Mines PGM announced on Thursday it would match the support provided by the municipality earlier this year when city council approved $50,000 in funding.

That figure was matched this week with a cheque from Goldcorp PGM for $50,000. “When we heard of the initiative, we jumped in to support it,” said Goldcorp Sustainability Manager Bryan Neeley.

“The contribution will improve the committee’s ability to execute on different initiatives. Our relationship with our Indigenous Partners is a core belief of the company and treating all people with respect regardless of their diversity, is important in the workplace as well as in the community.” Continue Reading →

Taking teleremote to a new level: Musselwhite grows Ops Centre in Thunder Bay – by Graham Strong (Sudbury Mining Solutions Journal – September 2018)

Goldcorp Inc.’s Musselwhite Mine is working toward becoming a full-fledged smart mine with all the safety, cost-savings, and other benefits that come along with it. Its new Integrated Remote Operations Centre (IROC), which opened in Thunder Bay in June, allows operators, communications/dispatch personnel and supervisors to work at the mine virtually.

Peter Gula, Musselwhite’s mine general manager, said that the most dangerous work such as loading and rock breaker operations are performed teleremotely. New technology including fibre-based networking has allowed the company to physically move operators out of the mine and into an office building in Thunder Bay, 500 kilometres to the south.

“I’ve had this vision of trying to get as many people offsite as possible,” said Gula, who transferred to Musselwhite in 2015 from Red Lake where he worked for 27 years. “Every person that we have up at site has about a $40,000 a year cost associated with it. That includes travel, housing, and all the staff and services that go to support the people working at Musselwhite.” Continue Reading →

Ian Telfer talks: Transcending low grades in school, he hit high grades in mining and philanthropy – by Greg Klein (Resource Clips – July 4, 2018)

Here’s a guy who got rejected not by “virtually every university in Canada, it was every university in Canada”—and for an MBA program at that. Now chairperson of Goldcorp TSX:G, Ian Telfer credits one school’s 11th-hour offer with giving him a second shot at his career, putting an undistinguished background behind him to become a serial success story.

His reflections provided inspiration to a sold-out Vancouver audience of 850 people hoping to pick up some of the magic that made him a mining legend.

The June 28 event saw him interviewed on stage by Peter Legge, a standup comic-turned-publisher and author of several motivational books. Consequently, conversation focused less on mining deals than on qualities that might complement success in any industry. Hosting the event was BCBusiness, a magazine created by Cambridge House International founder Joe Martin and sold to Legge by local zillionaire Jim Pattison. Continue Reading →

First new all-electric mine dumps diesel; cuts costs, pollution – by Susan Taylor and Barbara Lewis (Reuters U.S. – June 21, 2018)

CHAPLEAU, Ontario/LONDON (Reuters) – Hundreds of feet below thick boreal forest blanketing the Canadian Shield, a squad of near-silent, battery-powered machines are tunneling toward gold in a multimillion-dollar mining experiment to ditch diesel.

Goldcorp Inc (G.TO) (GG.N) is building the world’s first new all-electric mine, a high-stakes gambit to replace noisy, fume-belching equipment being closely watched by a diesel-dependent industry.

A rough-hewn tunnel, some 800 feet underground, seems an incongruous setting for revolutionary technology, but front-line workers call it a game changer. Continue Reading →

The diesel-addicted mining industry is finally embracing renewable energy, but it’s not just because of the environment – by Gabriel Friedman (Financial Post – June 11, 2018)

With diesel prices rising in tandem with oil prices, the quest for sustainability has pushed many companies to look closely at their energy usage

About a 10-hour drive northwest of Toronto, in an area with no history of mining and little exploration, Goldcorp Inc. is tunneling a hole, currently at least 120 meters below the pine tree forests and lakes that dot the surface, for what it hopes will be one of its most sustainable mines yet.

Borden, as the mine is to be called when it starts producing in 2019, will be modest in size at about 250,000 ounces of gold per year under current estimates.

But Goldcorp harbours big ambitions to make it the first all-electric underground mine in Canada where everything from the trucks that haul ore, to the ventilation system that provides oxygen to its subterranean workers, run off energy taken from the electrical grid. Continue Reading →

Goldcorp signs impact and benefit agreement with Indigenous communities – by Staff (Northern Ontario Business – June 6, 2018)

Brunswick House, Chapleau Cree and Chapleau Ojibwe First Nations will benefit from miner’s Borden Gold project

Goldcorp has signed an impact and benefit agreement (IBA) with three First Nations, marking a big step forward in the development of its Borden Gold project near the town of Chapleau. In a June 6 news release, the company said it had signed an agreement with the Indigenous communities of Brunswick House, Chapleau Cree and Chapleau Ojibwe First Nations.

The company said the agreement is the result of two years of negotiations with the three communities and marks a major milestone, as this is the first time the three First Nations are involved with a mining project.

Under the agreement, Goldcorp recognizes and respects the rights and interests these First Nations have around the Borden project site, and the three First Nation communities recognize and support Goldcorp’s rights and interests in the development and future operation of the mine. Continue Reading →

City approves sale of lands to Goldcorp – by Len Gillis (Timmins Daily Press – May 23, 2018)

TIMMINS – Timmins city council has approved selling off 30 parcels of public land for more than $872,000 to Goldcorp Porcupine Gold Mines to allow the company to be in a better position to move forward with the Century Project expansion.

The sale was approved Tuesday night with a purchasing bylaw that was first approved by a motion of council after an in-camera meeting held a month ago, on Tuesday. April 17, 2018.

The closed meeting was held to discuss the pending sale or purchase of lands by the city. Only the mayor and four council members were present: Joe Campbell, Mike Doody, Veronica Farrell and Walter Wawrzaszek. Following that one-hour meeting, council went into a public session to pass the resolution to authorize the sale of the land parcels. The media, which was not present that day, had not been told of the public meeting. Continue Reading →