|Traded as||TSX: G
S&P/TSX 60 component
|Headquarters||Vancouver, British Columbia, Canada|
|Key people||Charles Jeannes, President & CEO|
|Revenue||$2,723.60 million (2009)|
|Operating income||$816.00 million (2009)|
|Net income||$240.20 million (2009)|
Goldcorp is a gold producer headquartered in Vancouver, British Columbia, Canada. The company employs more than 16,000 people worldwide, 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. Goldcorp has repeatedly been accused of harming the environment, livestock, and public health in multiple studies, contaminating areas with toxic heavy metals by its mining activities.
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.
- Red Lake mine (Canada)
- Porcupine mine (Canada)
- Musselwhite mine (Canada)
- Cochenour (Canada)
- Wharf mine (USA)
- Marigold mine (67%) (USA)
- El Sauzal mine (Mexico)
- Los Filos mine (Mexico)
- Peñasquito mine (Mexico)
- Marlin mine (Guatemala)
- Alumbrera mine (37.5%) (Argentina)
- Eleonore (Canada)
- Pueblo Viejo (Dominican Republic - 40% ownership)
- Cerro Blanco (Guatemala)
- Camino Rojo mine (Mexico)
- Noche Buena (Mexico)
- El Morro (Chile - 70% ownership)
- Cerro Negro (Argentina)
2011 Production totaled 687,900 ounces for the fourth quarter and 2,514,700 ounces for 2011, compared to 689,600 ounces and 2,520,300 ounces (1), respectively, in 2010.
|Financials (US $ Millions)||2009||2010||2011|
|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|
Goldcorp has been linked to environmental pollution due to its mining practices. Two studies commissioned by the UK-based advocacy group CAFOD have found the company's methods to extract gold from low-grade deposits also releases other toxic heavy metals such as arsenic, mercury and lead, contaminating streams and groundwater. The first study from Newcastle University detected acidic mine drainage, whereby sulphides in the rock are exposed to oxygen and water and produce sulphuric acid, which can have devastating effects on animals and plants. A follow-up study by the same university found evidence of "severe" contamination in the form of highly acidic and metal-rich water from the mine site flowing into a stream used by villagers for agriculture and domestic purposes.
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.
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.
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. 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.
Pueblo Viejo mining project
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. 25 years of operation are scheduled for this project, which is likely to raise the exports of the Dominican Republic clearly. The project has caused contamination and illegal logging.
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.[unreliable source?]
- "Goldcorp financial data: annual data". Retrieved 2010-05-03.
- "top 2000 companies 2010". Forbes. 2010-04-21.
- "top 2000 companies 2009". Forbes. 2009-04-08.
- "goldcorp inc. stock quote analysis at a glance". Forbes. Retrieved 2010-05-03.
- "Company Profile for Goldcorp Inc (GG)". Retrieved 2008-10-08.
- "Gold giant faces Honduras inquiry into alleged heavy metal pollution". The Guardian. 31 December 2009. Retrieved 5 October 2014.
- Paula Todd, W5, "Searching for gold at the end of the Guatemalan rainbow" CTV, Retrieved 2012-03-03.
- W5, "Paradise Lost" CTV, Retrieved 2012-03-03.
- Latin America: Protests Mount Against Mining Giant, Inter Press Service, February 24, 2007
- Goldcorp on Trial, The Indypendent, September 10, 2012
- Awards and recognition, Goldcorp