Goldcorp appoints new chief operating officer
Canadian miner Goldcorp (TSX: G) (NYSE: GG) appointed George Burns as the new executive vice president and chief operating officer. Burns replaces Steve Reid, who is leaving the company to pursue other interests.
Burns currently heads Goldcorp's operations in Mexico, where the company has its flagship Peñasquito operation as well the Los Filos mine.
"Steve's dedication over the last seven years to instilling operational excellence throughout Goldcorp's mines and projects has made Goldcorp a stronger company," Chuck Jeannes, President and Chief Executive Officer said in a statement. "He understands that people are Goldcorp's most valuable asset, and he has committed himself tirelessly to inspiring them and keeping them safe," Jeannes added.
Goldcorp, along with fellow Canadian gold miners such as Barrick Gold Corp and Kinross Gold, have been dealing with operational setbacks and cost increases in recent months.
Last month, Goldcorp reported a significant fall in second-quarter earnings as cash costs doubled partly in the face of setbacks at Peñasquito and Red Lake.
The company's gold sales dropped from 606,400 ounces on production of 597,100 ounces in the second quarter of 2011 to 532,000 ounces on production of 578,600 ounces.