TSX: G NYSE: GG
(All Amounts in $US unless stated otherwise)
VANCOUVER, Oct. 2, 2014 /CNW/ - GOLDCORP INC.
(TSX: G, NYSE: GG) announced today that first gold
production has been achieved at Éléonore, located in the
James Bay region of Northern
Quebec.
"Following a four year development period I am pleased to
announce first gold production at Éléonore, on schedule and in line
with our capital cost guidance," said Chuck
Jeannes, Goldcorp President and Chief Executive
Officer. "The team has done a tremendous job bringing this
mine into production safely, in partnership with the Cree Nation of
Wemindji, the Grand Council of the
Crees of Eeyou Istchee / the Cree National Government (GCC(EI)/CNG)
and our suppliers and contractors from Quebec. Located
in one of the most attractive mining jurisdictions in the world,
the project during its development stage created 2,000 jobs in the
province of Quebec and
approximately 900 of these will be maintained as we move towards
full production. Éléonore is expected to ramp-up to design
throughput of 7,000 tonnes per day by 2018."
On October 1, the initial dore bar
was poured containing an estimated 70 ounces of gold recovered from
the gravity circuit. Commissioning of the remainder of the plant is
underway with gold production from the leaching and CIP circuit
expected in October. Overall, progress at the mine remains on track
for declaration of commercial production in the first quarter of
2015. Production for 2014 is expected to be between 40,000
and 60,000 ounces of gold. Capital costs remain unchanged at
between $1.8 and $1.9 billion.
Goldcorp is one of the world's fastest growing gold
producers. Its low-cost gold production is located in stable
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 economic 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 "Risk Factors" in
Goldcorp's annual information form for the year ended December 31, 2013 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.