IACHR modifies Marlin Mine precautionary measures; Request to suspend mine operations removed
December 16 2011 - 1:27PM
PR Newswire (Canada)
Toronto Stock Exchange:
G
New York Stock Exchange: GG (All Amounts in $US unless stated
otherwise) VANCOUVER, Dec. 19, 2011 /CNW/ - GOLDCORP INC. 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. Goldcorp Inc. CONTACT: Jeff WilhoitVice President,
Investor RelationsGoldcorp Inc.Telephone: (604) 696-3074Fax: (604)
696-3001E-mail: info@goldcorp.comwebsite: www.goldcorp.com
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