Toronto Stock Exchange:
G
New York Stock Exchange: GG
(All Amounts in $US unless stated otherwise)
VANCOUVER, Dec. 19, 2011 /PRNewswire/ - GOLDCORP INC.
(TSX: G, NYSE: GG) has been advised by the Government of
Guatemala that the Inter-American
Commission on Human Rights (IACHR) of the Organization of American
States has notified the State of
Guatemala, that "after reviewing the extensive information
provided by the parties, the IACHR decided to modify the
precautionary measures" adopted in May
2010 with respect to the Marlin Mine. The modified
precautionary measures do not request that operations at the Marlin
Mine be suspended as did the initial precautionary measures. Normal
operations have continued at Marlin throughout the IACHR
process.
"Goldcorp is gratified that the IACHR has taken
into account the extensive information available, including water
quality monitoring since before mine construction began and
technical studies, which demonstrates that the Marlin mine is not
causing and has not caused harm to human health or the environment,
and has removed the suspension of Marlin operations from the
precautionary measures," said Chuck
Jeannes, Goldcorp President and Chief Executive
Officer. "We take seriously our commitment to the responsible
stewardship of the environment and to the human rights of the
people in communities near Marlin. We are proud of Goldcorp's
record of safe, responsible conduct at Marlin and everywhere we
operate."
The IACHR's action follows a petition by the
Presidential Commission on Human Rights, on behalf of the
Government of Guatemala, that the
IACHR declare the precautionary measures without further
effect. The Government's petition was based on the
determination of the administrative process specified by
Guatemala's Mining Law that "no
proof exists that there is any situation presenting a threat of
serious or imminent harm to persons or that there is a probability
that any damage will materialize and therefore there does not exist
a situation of extreme seriousness or urgency to avoid irreparable
harm to persons as a result of operations at the Marlin mine."
The modified precautionary measures request the
Government to ensure the quality of water sources serving the 18
communities identified in the petition filed with the IACHR is
suitable for potable, domestic and irrigation uses. The modified
measures also request that the Government advise the IACHR as to
the manner in which it is fulfilling this duty.
Since the start of operations at Marlin,
Guatemala's Ministry of Energy and
Mines and Ministry of Environment and Natural Resources have
monitored the Company's mining activities. In addition, the Company
and the Community Environmental Monitoring Association have
monitored water quality in accordance with the requirements
established in the environmental permits for the Mine. All results
of this monitoring have indicated that the operations are carried
out strictly in compliance with the applicable national and
international standards.
The Marlin Mine currently employs 2,300 people
with a payroll in 2011 totaling over $23.1
million. Approximately 70% of employees are Mayan indigenous
residents of San Miguel Ixtahuacán and Sipacapa and 98% are from
Guatemala.
Goldcorp is one of the world's fastest growing
senior gold producers. Its low-cost gold production is
located in safe jurisdictions in the Americas and remains 100%
unhedged.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains "forward-looking
statements", within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation, concerning the business, operations and
financial performance and condition of Goldcorp Inc. ("Goldcorp").
Forward-looking statements include, but are not limited to,
statements with respect to the future price of gold, silver,
copper, lead and zinc, the estimation of mineral reserves and
resources, the realization of mineral reserve estimates, the timing
and amount of estimated future production, costs of production,
capital expenditures, costs and timing of the development of new
deposits, success of exploration activities, permitting time lines,
hedging practices, currency exchange rate fluctuations,
requirements for additional capital, government regulation of
mining operations, environmental risks, unanticipated reclamation
expenses, timing and possible outcome of pending litigation, title
disputes or claims and limitations on insurance coverage.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "plans", "expects",
"is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", "believes" or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "would", "might" or "will be taken",
"occur" or "be achieved" or the negative connotation thereof.
Forward-looking statements are made based upon
certain assumptions and other important factors that, if untrue,
could cause the actual results, performances or achievements of
Goldcorp to be materially different from future results,
performances or achievements expressed or implied by such
statements. Such statements and information are based on
numerous assumptions regarding present and future business
strategies and the environment in which Goldcorp will operate in
the future, including the price of gold, anticipated costs and
ability to achieve goals. Certain important factors that could
cause actual results, performances or achievements to differ
materially from those in the forward-looking statements include,
among others, gold price volatility, discrepancies between actual
and estimated production, mineral reserves and resources and
metallurgical recoveries, mining operational and development risks,
litigation risks, regulatory restrictions (including environmental
regulatory restrictions and liability), activities by governmental
authorities (including changes in taxation), currency fluctuations,
the speculative nature of gold exploration, the global economic
climate, dilution, share price volatility, competition, loss of key
employees, additional funding requirements and defective title to
mineral claims or property. Although Goldcorp has attempted
to identify important factors that could cause actual actions,
events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended.
Forward-looking statements are subject to known
and unknown risks, uncertainties and other important factors that
may cause the actual results, level of activity, performance or
achievements of Goldcorp to be materially different from those
expressed or implied by such forward-looking statements, including
but not limited to: risks related to the integration of
acquisitions; risks related to international operations, including
economical and political instability in foreign jurisdictions in
which Goldcorp operates; risks related to current global financial
conditions; risks related to joint venture operations; actual
results of current exploration activities; environmental risks;
future prices of gold, silver, copper, lead and zinc; possible
variations in ore reserves, grade or recovery rates; mine
development and operating risks; accidents, labour disputes and
other risks of the mining industry; delays in obtaining
governmental approvals or financing or in the completion of
development or construction activities; risks related to
indebtedness and the service of such indebtedness, as well as those
factors discussed in the section entitled "Description of the
Business - Risk Factors" in Goldcorp's annual information form for
the year ended December 31, 2010
available at www.sedar.com. Although Goldcorp has attempted
to identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements.
Forward-looking statements are made as of the date hereof and
accordingly are subject to change after such date. Except as
otherwise indicated by Goldcorp, these statements do not reflect
the potential impact of any non-recurring or other special items or
of any dispositions, monetizations, mergers, acquisitions, other
business combinations or other transactions that may be announced
or that may occur after the date hereof. Forward-looking
statements are provided for the purpose of providing information
about management's current expectations and plans and allowing
investors and others to get a better understanding of our operating
environment. Goldcorp does not undertake to update any
forward-looking statements that are included in this document,
except in accordance with applicable securities laws.
SOURCE Goldcorp Inc.