Goldcorp stops Los Filos ops pending land use agreement renewal
TORONTO (miningweekly.com) – Canadian gold senior Goldcorp has stopped operations at its Los Filos mine, in southern Mexico's Guerrero state, after it was unable to negotiate a settlement to renew its land occupancy agreement that had expired on Monday.
The miner said it would continue with certain activities related to environmental safeguards and site security during the suspension.
At a market capitalisation of C$22.42-billion, Goldcorp is the world’s second largest gold miner by value.
The company said it continued to hold discussions with the local Carrizalillo Ejido representatives to resolve the situation with the goal of ensuring the long-term sustainability of operations amid a lower gold price environment and significantly higher Mexican tax obligations.
The Los Filos mine directly employs more than 2 600 people from the surrounding communities and about 10 000 secondary jobs as a result of the mine's presence in the region.
The Los Filos operation consists of two openpit mines – Los Filos and El Bermejal – and one underground mine. The openpit operation began commercial production in January 2008.
Los Filos was expected to produce between 330 000 oz and 345 000 oz of gold this year. The mine has compliant proven and probable reserves totalling 7.95-million ounces of yellow metal and 54.52-million ounces of silver.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation

















