VANCOUVER, April 2, 2014 /PRNewswire/ – GOLDCORP INC. (TSX: G) (NYSE: GG)
announced that its Los Filos mine in Guerrero State, Mexico has suspended
operations following unsuccessful efforts with the Carrizalillo Ejido to reach a
negotiated settlement to renew the occupancy agreement that expired on March 31,
2014. Certain activities related to environmental safeguards and site security
will continue during the suspension.
The Company continues to hold discussions with Ejido representatives to
expeditiously 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 with an
estimated 10,000 additional jobs created as a result of the mine’s presence in
the region.
Goldcorp is one of the world’s fastest growing senior gold producers. Its
low-cost gold production is located in safe jurisdictions in the Americas and
remains 100% unhedged.
Cautionary Note Regarding Forward Looking Statements
This press release contains “forward-looking statements”, within the meaning
of the United States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities legislation, concerning the business, operations
and financial performance and condition of Goldcorp Inc. (“Goldcorp”).
Forward-looking statements include, but are not limited to, statements with
respect to the future price of gold, silver, copper, lead and zinc, the
estimation of mineral reserves and resources, the realization of mineral reserve
estimates, the timing and amount of estimated future production, costs of
production, capital expenditures, costs and timing of the development of new
deposits, success of exploration activities, permitting time lines, hedging
practices, currency exchange rate fluctuations, requirements for additional
capital, government regulation of mining operations, environmental risks,
unanticipated reclamation expenses, timing and possible outcome of pending
litigation, title disputes or claims and limitations on insurance coverage.
Generally, these forward-looking statements can be identified by the use of
forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, “believes” or
variations of such words and phrases or statements that certain actions, events
or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be
achieved” or the negative connotation thereof.
Forward-looking statements are made based upon certain assumptions and other
important factors that, if untrue, could cause the actual results, performances
or achievements of Goldcorp to be materially different from future results,
performances or achievements expressed or implied by such statements. Such
statements and information are based on numerous assumptions regarding present
and future business strategies and the environment in which Goldcorp will
operate in the future, including the price of gold, anticipated costs and
ability to achieve goals. Certain important factors that could cause actual
results, performances or achievements to differ materially from those in the
forward-looking statements include, among others, gold price volatility,
discrepancies between actual and estimated production, mineral reserves and
resources and metallurgical recoveries, mining operational and development
risks, litigation risks, regulatory restrictions (including environmental
regulatory restrictions and liability), activities by governmental authorities
(including changes in taxation), currency fluctuations, the speculative nature
of gold exploration, the global economic climate, dilution, share price
volatility, competition, loss of key employees, additional funding requirements
and defective title to mineral claims or property. Although Goldcorp has
attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not
to be as anticipated, estimated or intended.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other important factors that may cause the actual results,
level of activity, performance or achievements of Goldcorp to be materially
different from those expressed or implied by such forward-looking statements,
including but not limited to: risks related to the integration of acquisitions;
risks related to international operations, including economic and political
instability in foreign jurisdictions in which Goldcorp operates; risks related
to current global financial conditions; risks related to joint venture
operations; actual results of current exploration activities; environmental
risks; future prices of gold, silver, copper, lead and zinc; possible variations
in ore reserves, grade or recovery rates; mine development and operating risks;
accidents, labour disputes and other risks of the mining industry; delays in
obtaining governmental approvals or financing or in the completion of
development or construction activities; risks related to indebtedness and the
service of such indebtedness, as well as those factors discussed in the section
entitled “Description of the Business – Risk Factors” in Goldcorp’s annual
information form for the year ended December 31, 2012 available at
www.sedar.com. Although Goldcorp has attempted to identify important factors
that could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not to
be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking statements.
Forward-looking statements are made as of the date hereof and accordingly are
subject to change after such date. Except as otherwise indicated by Goldcorp,
these statements do not reflect the potential impact of any non-recurring or
other special items or of any dispositions, monetizations, mergers,
acquisitions, other business combinations or other transactions that may be
announced or that may occur after the date hereof. Forward-looking statements
are provided for the purpose of providing information about management’s current
expectations and plans and allowing investors and others to get a better
understanding of our operating environment. Goldcorp does not undertake to
update any forward-looking statements that are included in this document, except
in accordance with applicable securities laws.
SOURCE Goldcorp Inc.
/CONTACT:
Jeff Wilhoit
Vice President, Investor Relations
Goldcorp
Inc.
Telephone: (604) 696-3074
Fax: (604) 696-3001
E-mail: [email protected]
www.goldcorp.com
