Twitter

Goldcorp Inc.

Slow-moving mining companies begin to look to startups for digital innovations (Toronto Star – February 26, 2018)

https://www.thestar.com/

CANADIAN PRESS: VANCOUVER—The mining industry has developed a reputation for being slow to change, but a new wave of startups is helping push it into the digital age.

Four of those companies have been declared finalists in Goldcorp Inc.’s mining innovation competition, banking on the potential to replace cyanide, to use sound waves to see deep inside the earth, map mines in virtual reality and digitize trading.

The companies — EnviroLeach Technologies Inc., Acoustic Zoom Inc., LlamaZoo Interactive Inc. and Open Mineral AG — were chosen out of for more than 100 companies looking to bring new ideas to the industry.

Read more

Agnico Eagle CEO bullish on Canada as rivals falter overseas – by Gabriel Friedman (Financial Post – February 16, 2018)

http://business.financialpost.com/

Gold prices are rising after a prolonged period of sluggish performance, but not all gold producers will be able to use 2018 to grow — as three earnings announcements released this week by senior Canadian gold companies demonstrated.

Barrick Gold Corp., the world’s largest producer, cut its 2018 production outlook to 4.5 million to 5 million ounces whereas Goldcorp Inc., at nearly half the size, kept its production outlook unchanged at 2.5 million ounces. Meanwhile, the smallest of the pack Agnico Eagle Mines Ltd., increased its production guidance to 1.53 million ounces.

The different growth outlooks not only reflect the difference in size between the companies, but also varying approaches to risk management — whether related to the geography of operations, the approach to acquisitions and explorations or other aspects of management.

Read more

‘Every area of mining ripe for innovation’ – Goldcorp – by Henry Lazenby (MiningWeekly.com – February 9, 2018)

http://www.miningweekly.com/

VANCOUVER (miningweekly.com) – Every conceivable area of mining is in dire need of technological innovation, major miner Goldcorp tells Mining Weekly Online in an interview.

“We are not exactly the most advanced industry in the world, and we’re slow in adopting new technologies. Every area is ripe for innovation,” Goldcorp’s VP for technology Luis Canepari says. According to him, perhaps the most critical area in need of innovation is exploration.

He explains that, these days, across the entire mining industry, the exploration success rate is very low. “Anything that we can do to improve those results have a direct correlation to improving the bottom line. That is why we are spending big on exploration innovation.”

Read more

Goldcorp re-submits rejected application to build Yukon mine – by Dave Croft (CBC News North – January 17, 2018)

http://www.cbc.ca/news/canada/north/

Project manager believes company has done everything it can to ensure application makes it through process

Mining giant Goldcorp has re-submitted its massive application for environmental permitting to build a gold mine 130 kilometres south of Dawson City, Yukon. The original proposal was filed last March and rejected by the Yukon Environmental and Socio-economic Assessment Board (YESAB) a few months later.

YESAB found the application inadequate because Goldcorp had not properly consulted four potentially affected First Nations.

The re-submitted application — a document of more than 20,000 pages — says that since then, the company has been meeting with the Tr’ondëk Hwëch’in, Selkirk, Na-Cho Nyak Dun and White River First Nations.

Read more

[Timmins Goldcorp] PGM aims to build larger milling facility – by Len Gillis (Timmins Daily Press – January 12, 2018)

http://www.timminspress.com/

TIMMINS – The skyline around the Dome Mine property is likely to see a dramatic change. With the recent closure of the Dome underground workings, the company is preparing to remove all the existing infrastructure and familiar surface buildings at that site.

Those changes were part of the presentation revealed to the Timmins Chamber of Commerce lunch event by Marc Lauzier Thursday. Lauzier is the mines general manager for Goldcorp Porcupine Gold Mines (PGM).

The chamber audience consisted mainly of mining supply and service representatives who seemed assured to hear that PGM is still in business as strongly as ever in the Porcupine Camp despite the Dome underground shutdown and especially with the prospect of the new Century Project.

Read more

Legendary Timmins Dome underground operations ended Dec. 31: ‘It’s just amazing what this mine has done for the community’ – by Maija Hoggett (Northern Ontario Business – January 2, 2017)

Legendary Dome Mine Timmins Ontario (Wiki Photo)

https://www.northernontariobusiness.com/

The final day of 2017 marked the end of an era at a Timmins mine. More than 100 years after the Dome underground mine started, work permanently ceased on Dec. 31.

Goldcorp Porcupine Gold Mines (PGM) announced the closure, which directly affects about 140 people, in August. To mark the end of the historic operation, mine general manager Marc Lauzier said each crew enjoyed cake, a photographer took keepsake photos for interested crew members, and the workers received a memento to bring home.

“I couldn’t be prouder of our crews; they’ve done a phenomenal job, they’ve kept their heads up right until the end, and the morale is actually better than it could be,” Lauzier said.

Read more

The View from the Goldcorp Chairman’s Office – by Tommy Humphreys (CEO.ca – Novmeber 2, 2017)

https://ceo.ca/

Ian Telfer’s office at Goldcorp looks nothing like the rest of the company’s double story headquarters atop Park Place, a pink marble tower that is one of Vancouver’s largest skyscrapers.

The Goldcorp chairman’s corner suite overlooks a spectacular view, like an eagle’s nest atop the city. The walls are painted dark, giving the impression of a chic hotel lounge more than a workspace. Warm paintings of local landmarks decorate them. Ian Telfer, a trim, dapper figure and a giant of the gold business, is seated behind the desk. He shrugs his shoulders, nonchalantly, and tells me he bought the paintings from a local artist he found in a coffee shop.

I used to work in the building myself, as a summer student for RBC Dominion Securities. During a 2006 building renovation, there was a lot of buzz about the new tenant taking over the penthouse suite. That tenant was Goldcorp. Ian Telfer and Frank Giustra’s Wheaton River Minerals had successfully navigated the gold boom of the early 2000s and acquired Goldcorp to become Canada’s second largest producer. It was the talk of the town then and still is today.

Read more

Goldcorp reveals good news for the Dome Mine Century Project – by Len Gillis (Timmins Daily Press – November 1, 2017)

http://www.timminspress.com/

More “positive” news has emerged about Goldcorp’s Century Project in Timmins which is a proposed expansion of the existing Dome Mine open pit operation.

Goldcorp has released a “reserves and resource estimate” that reveal the pre-feasibility study for the Century Project gold mine has been completed and the news was good.

“The Base Case Pre-Feasibility Study was positive and Goldcorp believes that exploration drilling and the upcoming optimization study could continue to add value to this organic project with low execution risk in a proven mining district,” said the report.

Read more

BMO: Miners may revisit dormant mega-projects – by Matthew Keevil (Northern Miner – Matthew Keevil)

Northern Miner

VANCOUVER — The last five years have seen large-cap miners shelve — and often write-down — ambitious, greenfield development projects that carry significant development price tags and heightened risk.

The majors instead focused on stronger operating margins and lighter balance sheets, which were typically characterized by improved free cash flow generation and lower debt.

The last 18 months have marked a shift in sentiment for metal producers, however, as metal prices have strengthened and risk capital markets entered the nascent stages of recovery.

Read more

ANALYSIS: Gold industry leaves no stone unturned in battle over West Australia Government mining royalty hike – by Jacob Kagi (Australian Broadcasting News – October 5, 2017)

http://www.abc.net.au/

The gold industry is pulling out all stops in its fight to defeat what it claims will be a job-crippling royalty increase, while division simmers in the Liberal Party over whether to give the bid crucial support in Parliament.

From taking out large newspaper advertisements to inviting key media figures to dinner at fancy restaurants, the mining lobby is leaving no stone unturned in its battle against the McGowan Government’s gold royalty hike.

But with the vote in State Parliament to determine the fate of the 50 per cent rise in the royalty rate potentially less than a week away, the industry stepped its campaign up a notch yesterday. In a rare show of unity, senior executives from some of the state’s biggest gold miners, and top figures from other companies linked to the industry, lined up yesterday to warn jobs would be lost en masse if the royalty hike remained.

Read more

Cost-cutting miners shine despite range-bound gold prices – by Sunny Freeman (Financial Post – July 28, 2017)

http://business.financialpost.com/

Canadian gold miners posted solid second-quarter profits driven by increasing efficiency at their operations rather than any stellar increase in the price of gold. Toronto-based miners Barrick Gold Corp. and Agnico Eagle Mines Ltd. and Vancouver-based Goldcorp Inc. all surprised analysts with earnings that beat expectations as they continue to drive down their cost of sales.

Historically, the performance of gold companies tends to move in tandem with bullion prices, but the miners better-than-expected year-over-year results came even as the price of gold during the quarter remained virtually flat — up just three per cent over the year before.

Gold companies have been focused on driving down cash costs and paring their portfolios to deal with a years-long decline in the commodities market and those moves during bust times appear to be paying off as the cycle begins to make a more positive shift.

Read more

Mining Giants Post Red-Hot Results in Lukewarm Gold Market – by Danielle Bochove (Bloomberg News – July 27, 2017)

https://www.bloomberg.com/

Four of the world’s top gold companies were in full “beats” mode in the second quarter, wringing more value out of their mines amid tepid gold prices.

A day after Newmont Mining Corp. reported higher-than-expected adjusted profits by extracting more gold at lower costs, Canada-based Barrick Gold Corp., Goldcorp Inc. and Agnico Eagle Mines Ltd. followed suit Wednesday.

“It’s the night of the beats,” Andrew Kaip, a Toronto-based analyst at BMO Capital Markets, said by telephone. “The read here is that their optimization programs are continuing to deliver and their capacity to improve their operational outlook continues to have momentum.”

Read more

[Yukon Mining] Junior shakeup in the White Gold District – by Andrew Topf (Mining.com – July 23, 2017)

http://www.mining.com/

The White Gold District in the Canadian Yukon territory is continuing to see movement, this time among junior gold explorers hoping to grab a piece of the action.

Last week Taku Gold (TSXV:TAK) said it has picked up four White Gold properties from Golden Predator Mining (TSXV:GPY), including one from Golden Predator’s subsidiary, Golden Predator Exploration. The four properties are 40 Mile, Korat, Chopin and Lucky Joe.

According to Taku Gold the highlight of the all-share deal is the acquisition of the Lucky Joe prospect, since it butts up against Taku’s Rosebute project to the north. The company adds that it will be able to capitalize on Goldcorp (NYSE:GG, TSX:G) recently building a road to access the Coffee gold project the gold major acquired from Kaminak Gold:

Read more

YESAB says Goldcorp failed to consult First Nations, halts Coffee mine assessment – by Lori Garrison (Yukon News – July 14, 2017)

‘They just came in and completely failed to read the local landscape’

The Yukon Environmental Socio-Economic Assessment Board has discontinued its assessment of the proposed Coffee gold mine on the grounds that Goldcorp did not adequately consult with the affected First Nations governments.

“Having carefully reviewed the information in Goldcorp’s proposal as well as the comments provided by the Tr’ondëk Hwëch’in and Selkirk First Nation, the executive committee is of the opinion that Goldcorp has not met its obligation to consult in relation to those First Nations and the First Nation of Na-Cho Nyak Dun,” YESAB’s executive committee wrote in its report, issued July 12.

“The only aspect we’re looking at is the consultation record…. They (Goldcorp) are missing pieces of it,” said Rob Yeoman, a spokesperson for YESAB. Goldcorp appears to have tried to rush through the consultation process in an effort to meet what mine general manager Buddy Crill referred to as an “aggressive” March 31 assessment deadline.

Read more