GOLDCORP, CREE NATION OF WEMINDJI, GRAND COUNCIL OF THE CREES (EEYOU ISTCHEE) AND CREE REGIONAL AUTHORITY SIGN AN IMPORTANT AGRE
February 21 2011 - 12:13PM
PR Newswire (Canada)
VANCOUVER and WEMINDJI, QC, Feb. 21 /CNW/ -- Toronto Stock
Exchange: G New York Stock Exchange: GG VANCOUVER and WEMINDJI, QC,
Feb. 21 /CNW/ - GOLDCORP INC. (NYSE: GG) (TSX: G) ("Goldcorp"), the
Cree Nation of Wemindji, the Grand Council of the Crees (Eeyou
Istchee) and the Cree Regional Authority (the "Crees") today signed
a Collaboration Agreement regarding the development and operation
of Goldcorp's Éléonore Gold Project in northern Québec. The signing
ceremony took place in Wemindji, Québec. With the support of the
people of Wemindji, the community formally approved the agreement
on January 26, 2011 with the unanimous consent of Wemindji's Chief
and Council. It was subsequently approved unanimously by the Grand
Council of the Crees (Eeyou Istchee) and the Cree Regional
Authority on February 3, 2011, representing the support of the Cree
Nation as a whole, and ensuring a stable regional environment for
the development and operation of the Éléonore Gold Project. Under
the agreement, Goldcorp recognizes and respects Cree rights and
interests in the area of the Éléonore Gold Project and the Crees
recognize and support Goldcorp's rights and interests in the
development and operation of the project. By entering into the
agreement, the Crees have demonstrated their commitment to
collaborate with Goldcorp in the development and operation of a new
gold mine in Cree territory. The agreement will be in effect for
the life of the mine. It includes provisions regarding the
participation of the Crees in the development of the Éléonore Gold
Project throughout the life of the mine, including employment and
business opportunities and training and education initiatives. The
agreement aligns Goldcorp and Cree interests in the economic
success of the project, and ensures that the Crees will receive
financial benefits through a variety of fixed payment mechanisms
and participation in the future profitability of the mine. The
agreement also reflects Goldcorp's commitment to protecting the
environment and supporting the Crees' social and cultural practices
in a spirit of continued collaboration. "This collaborative
partnership with the James Bay Crees creates the foundation for a
lasting relationship built on trust, mutual respect and
constructive engagement," said Chuck Jeannes, President and CEO of
Goldcorp. "As Éléonore has grown and developed, so too have the
social and economic opportunities the project creates for
stakeholders. We will work closely with the Crees to advance these
opportunities while acting as responsible stewards of the land and
for the health and safety of those working and living on it." "This
Collaboration Agreement is a vibrant example where, with the
participation of the Crees, mining development can take place and
prosper in Eeyou Istchee," said Dr. Matthew Coon Come, Grand Chief
of the Grand Council of the Crees (Eeyou Istchee). "This agreement
marks the beginning of a collaborative and fruitful relationship
between the Crees and Goldcorp, a relationship based on respect for
Cree rights and environmental and economic sustainability. In
accordance with the principles of our Cree Nation Mining Policy,
the Crees and Goldcorp have ensured that our traditional rapport to
the land remains intact. This agreement sets the new standard for
mining proponents seeking to do business in Eeyou Istchee." "This
agreement represents the beginning of a new era between developers
and indigenous communities based on respect and recognition of the
significant contributions our communities can make in the
development of projects such as Éléonore. My people can proudly
stand with Goldcorp as we do everything we can to ensure the
profitability of the project while managing it in a manner
reflective of our obligations to our families and future
generations," said Wemindji Chief Rodney Mark. Les Mines Opinaca
Ltée, a wholly-owned subsidiary of Goldcorp, owns the Éléonore Gold
Project and is the signatory to the Collaboration Agreement with
the Crees. 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, 2009 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. Jeff Wilhoit,
Vice President, Investor Relations, Goldcorp Inc., Telephone: (604)
696-3074, Fax: (604) 696-3001, E-mail: info@goldcorp.com, website:
www.goldcorp.com
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