Goldcorp faces lawsuit threat from Mexico and a $3.2 million fine in Argentina
Canadian gold giant Goldcorp (TSX:G), (NYSE:GG) has more than enough reasons to suffer from “Monday Blues,” as it began the week with a group challenging its use of lands around the Peñasquito mine in Mexico and a US$3.2 million fine for transgressions to health and safety standards at its Argentinian Cerro Negro mine.
The Vancouver-based gold miner and Mexican landowners group, the Cerro Gordo Ejido, locked horns early in the year, when an agrarian court nullified Goldcorp's lease of the lands and ruled they should be returned to the locals.
The world's biggest gold miner by market value managed to win in June a temporary suspension of such ruling and has been trying to reach a settlement with the group ever since.
However, Reuters reports Goldcorp received Monday a notice from a Canadian law firm said to represent the Cerro Gordo Ejido group, which threatened with litigation in Canada for the properties in question.
Meanwhile, authorities from the Argentine province of Santa Cruz, where the company is developing its Cerro Negro mine, said the miner would have to pay about $3.2 million for breaching health and safety standards.
Opi Santa Cruz (in Spanish) reports that, among the irregularities detected, the company failed to provide enough drinking water to its workers, as well as to keep eating facilities clean.
Photo courtesy of Golcorp.