Goldcorp

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Goldcorp Inc.
Type Public
Traded as TSXG
NYSEGG
S&P/TSX 60 component
Industry Gold Mining
Founded 1954
Headquarters Vancouver, British Columbia, Canada
Key people Charles Jeannes, President & CEO
Products Gold
Revenue Increase$2,723.60 million (2009)[1]
Operating income Increase$816.00 million (2009)[1]
Net income Decrease$240.20 million (2009)[1]
Total assets

Increase$20.95 billion (2010)[2][3]

2010 Rank 805[4]
Total equity

Increase[3]$31.59 billion (2010)

2010 Rank 252[4]
Employees 1,862 (2008)[5]
Website www.goldcorp.com

Goldcorp is a gold producer headquartered in Vancouver, British Columbia, Canada. The company employs more than 16,000 people worldwide,[citation needed] engaged in gold mining and related activities including exploration, extraction, processing and reclamation. Goldcorp’s operating assets include five mines in Canada and the U.S., three mines in Mexico, and two in Central and South America.[citation needed]

Operations[edit]

Operations Map[edit]

Goldcorp’s operating assets include five mines in Canada, and the USA, three mines in Mexico, and two in Central and South America. Goldcorp also has a number of projects including the Cerro Negro project in Argentina, the Éléonore gold project in Quebec, Canada, the Cochenour project in Ontario, Canada, the El Morro project in Chile and the Pueblo Viejo project (40% interest) in the Dominican Republic.[citation needed]

GGmap.jpg

Legend[edit]

  1. Red Lake mine (Canada)
  2. Porcupine mine (Canada)
  3. Musselwhite mine (Canada)
  4. Cochenour (Canada)
  5. Wharf mine (USA)
  6. Marigold mine (67%) (USA)
  7. El Sauzal mine (Mexico)
  8. Los Filos mine (Mexico)
  9. Peñasquito mine (Mexico)
  10. Marlin mine (Guatemala)
  11. Alumbrera mine (37.5%) (Argentina)
  12. Eleonore (Canada)
  13. Pueblo Viejo (Dominican Republic - 40% ownership)
  14. Cerro Blanco (Guatemala)
  15. Camino Rojo mine (Mexico)
  16. Noche Buena (Mexico)
  17. El Morro (Chile - 70% ownership)
  18. Cerro Negro (Argentina)

Financial[edit]

2011[edit]

2011 Production totaled 687,900 ounces for the fourth quarter and 2,514,700 ounces for 2011,[citation needed] compared to 689,600 ounces and 2,520,300 ounces (1), respectively, in 2010.[citation needed]

Financials (US $ Millions) 2009 2010 2011
Revenues $2,724 $3,738 $5,362
Earnings from Operations $821 $1,660 $2,626
Adjusted Net Earnings $588 $1,048 $1,786
Cash Flow from Operations $1,184 $1,693 $2,692
Cash & Cash Equivalents $875 $556 $1,502
Total assets at Dec. 31 $20,304 $27,639 $29,374

[citation needed]

Environmental impact[edit]

An investigative report by the CTV Television Network's W5, published on their website on April 17, 2010, reported criticism by human rights workers about the damage they believe mining companies were doing to the people, the land, and the culture of Guatemala.[6]

The same news program ran a four-part documentary entitled "Paradise Lost" which explored some of the controversy surrounding Goldcorp's Marlin mine operation, and investigated the economic, environmental, and social costs and benefits of Canadian mining operations in Central America.[7]

A study by Italian activist Flaviano Bianchini in 2006 found dangerous levels of arsenic and lead in the blood of Hondurans living downstream from Goldcorp's San Martin mine, located in the Siria Valley.[8] While people living in the valley had equated their health problems with the mine's operations since it opened in 1999, both the company and the Honduran government disputed the study's findings.

On July 14–15, 2012 the self-organized International Peoples’ Health Tribunal, a panel of twelve "judges" with backgrounds in science, health, ecology, and human rights met in Guatemala to hear testimony relating to the effects of Goldcorp's South American mines. After the two-day tribunal, the panel found Goldcorp financially liable for health and ecological damages to the communities near its mines in Honduras, Guatemala, and Mexico.[9]

Pueblo Viejo mining project[edit]

Pueblo Viejo mining project takes place in the Dominican Republic and is operated by Barrick Pueblo Viejo, a firm owned by Barrick Gold and Goldcorp.[10] 25 years of operation are scheduled for this project, which is likely to raise the exports of the Dominican Republic clearly.[10] The project has caused contamination and illegal logging.[11]

Recognition[edit]

According to the company's website, Goldcorp was named a Socially Responsible Company by The Mexican Centre for Philanthropy and the Alliance for Corporate Responsibility every year from 2008 to 2012, was named one of Canada's 100 top employers in 2011, and in 2010 was cited as one of Canada's Ten Best Companies to Work For.[12][unreliable source?]

See also[edit]

References[edit]