Goldcorp is a Canadian company but among its major investors are British-based AXA Investment Managers UK Ltd (US$4.3 million), Blackrock Commodities Income Trust plc, and City Natural Resources High Yield Trust PLC, according to the document From Money to Metals by mining researcher Roger Moody.
For background on the exchange between CAFOD and Goldcorp, see
CAFOD’s Rejoinder to Goldcorp’s Response to CAFOD Press Release: “CAFOD and Development and Peace Canada Discover Evidence of Severe Water Contamination at Goldcorp Mine,” 2 December 2009
CAFOD rejects Goldcorp’s claims that CAFOD’s allegations are “patent falsehoods and distortions”. CAFOD says: “Our press release was published following a thorough investigation of the San Martin Mine Closure Plan and its implementation by distinguished experts in this field. CAFOD, Development and Peace and our Honduran partner Caritas Tegucigalpa have attempted to raise concerns about acid mine drainage at the San Martin mine with Goldcorp on numerous occasions…for several years. We remain fully committed to a constructive dialogue with the company. However, this should not replace being open about the findings of our research or sharing this information publicly…The fact that Goldcorp had introduced remediation measures in the first place is tacit acknowledgement and recognition of a pre-existing problem of acid mine drainage at the San Martin mine…CAFOD’s press release did not dispute the fact that the mine closure plan was approved by SERNA [Honduran Ministry of Environment]…”
See the full rejoinder at
Other Goldcorp news
Goldcorp makes deal with New Gold to grab 70% of El Morro – Chile
Vancouver-based Goldcorp (TSX: G, NYSE: GG) has entered into a binding agreement with New Gold (TSX: NGD) for the latter to exercise its right of first refusal on a 70% stake in the El Morro copper project in Chile held by Xstrata Copper, a branch of multinational group Xstrata (LSE: XTA), and then pass the share on to Goldcorp. “In El Morro, Goldcorp has identified an ideal project with which to re-enter one of the best mining jurisdictions in South America,” CEO Chuck Jeannes said in a statement.
Barrick sues to break up Goldcorp-New Gold deal
Barrick Gold is suing to halt Goldcorp’s planned acquisition from New Gold of a 70 percent stake in the El Morro copper-gold project in Chile, which Barrick is also trying to acquire. Barrick agreed in October to buy the El Morro stake from its owner, Anglo-Swiss miner Xstrata, for $465 million. However, that bid was scuttled when New Gold, the minority stakeholder in El Morro, claimed right of first refusal to Xstrata’s stake and structuring a deal with Goldcorp.
Goldcorp exceeds output guidance for 2009 at 2.4Moz
Vancouver-based Goldcorp (TSX: G, NYSE: GG) produced 2.4 Moz of gold last year, a record for the company and more than its 2.3Moz guidance. Output in Q4 totaled 601,000oz, Goldcorp said in a statement Monday. The company added it expects cash costs to have averaged US$290/oz last year after taking into account byproducts and US$390/oz on a co-product basis, both above its previous guidance. Goldcorp, one of the world’s biggest gold miners, finished the year with US$865mn in cash. The company is active in Argentina, Guatemala and Mexico as well as Honduras.,4Moz/169555623