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Goldcorp expects Eleanore construction decision by yr-end
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23rd September 2010
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TORONTO ( – Vancouver-based Goldcorp is still aiming for a construction decision on its Eleanore gold project, in Quebec, before the end of this year, CEO Chuck Jeannes said on Wednesday.

The Eleanore mine is expected to produce about 330 000 oz/y of gold, and has a 16-year estimated mine life, based on a March 2010 prefeasibility study.

However, the company has since significantly increased resources at the project and is updating the study to include the new numbers.

“I can tell you that this will get bigger and better,” Jeannes commented in a presentation at the Denver Gold Forum.

“By the end of the year, we will have an updated study and I hope to have this before the board for a full construction decision before year-end.”

Goldcorp, which produced 2,4-million ounces of gold in 2009, plans to grow output to 3,7-million ounces by 2014, helped by production from the new Penasquito mine, the Cochenour project at Red Lake and the Pueble Viejo project, in which the company owns 40% and Barrick Gold holds the balance.

Beyond 2014, there are a number of other projects moving up the pipeline, including Eleanore and the El Morro project, both of which are expected to start up in 2015.

Goldcorp has also agreed to buy Andean Resources, for its Cerro Negro gold project in Argentina.

Edited by: Liezel Hill


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