Red Lake ground conditions dogs Goldcorp's Q1

Problems with ground conditions at Canadian gold major Goldcorp’s flagship Red Lake mine in Ontario during the first quarter have forced the Vancouver-based company to relook its 2012 guidance, it said on Wednesday. During the first three...

Goldcorp Q4 adjusted earnings up 23%

Goldcorp, one of the world’s biggest producers of the yellow metal, on Wednesday said net earnings for the December quarter fell 27% to $405-million, as a result of certain noncash items. On an adjusted basis, profit rose 23% to $531-million,...

Goldcorp agrees to higher 5% royalty in Guatemala

Canada’s second-biggest gold miner, Goldcorp, has struck a deal with Guatemala to increase its royalty rate by four percentage points to 5% of gross revenue, the company said on Friday. The government announced the previous day that royalties...

Goldcorp raises dividend by 32%

Goldcorp Inc raised its annual dividend by 32%, and said it was on track with its mine plan for the Cerro Negro gold project in southern Argentina. Goldcorp, one of the world's top gold miners, raised its annual dividend to 54 cents a share, its...

Growth-hungry Goldcorp boosts credit facility by 33%

Canada’s Goldcorp on Wednesday said it entered a five-year $2-billion credit facility, replacing an existing $1.5-billion line of credit. The company said it would use the debt to fund growth opportunities and also for general corporate purposes.

Goldcorp's Jeannes sticking with $2 400/oz gold forecast

Goldcorp CEO Chuck Jeannes isn’t budging from his prediction that gold will reach its all-time inflation adjusted high of $2 400/oz “in the next year or two”, despite bullion having corrected over the past month. “The macro-economic...

Gold producers expect more price gains by year-end

The gold price, which topped $1 600/oz for the first time this month and set another new record on Wednesday, will continue to rise as investors seek out the metal as a haven from risk and central banks increase their buying, top Canadian bullion...

Silver Wheaton trims guidance

Silver Wheaton has adjusted its 2011 attributable silver production to reflect a lower expected contribution from Goldcorp's Penasquito mine in Mexico, the company said on Thursday. Silver Wheaton pays producers upfront to buy silver output on a...

Goldcorp more than doubles adj earnings, cuts output target

Vancouver-based Goldcorp increased second-quarter adjusted net income by 111% compared with a year earlier, helped by increased gold sales and higher prices, but has lowered its gold production forecast for this year. The company said it now...

Goldcorp glistens as margins expand, output rises

Vancouver-based Goldcorp reported a big increase in first-quarter profit on Wednesday, helped by strong metals prices and rising production levels. In fact, the company boasts the biggest gold margin in the sector, at $1 206/oz of gold sold...

Goldcorp not planning more asset sales, outlines growth plans

Goldcorp, Canada's second-biggest gold producer, does not have plans to sell or spin-off more assets, CEO Chuck Jeannes said on Wednesday. Vancouver-based Goldcorp has been busy on the corporate development front over the last 18 months, both...

Goldcorp inks deal with Cree nation covering Quebec project

NYSE- and TSX-listed Goldcorp on Tuesday signed a collaboration agreement with the local Cree community regarding the development and operation of the Éléonore gold project in northern Québec. The gold miner reported that, under the agreement,...