Goldcorp says no production hit as Mexico mine blockade is lifted
Protesters lifted a blockade at Goldcorp’s Penasquito gold mine in Mexico without any impact on output the Vancouver-based miner said on Wednesday.
Local communities blocked the main access road to the polymetallic open pit mine in a dispute over water on Thursday last week.
Penasquito produced 465,000 ounces of gold in 2016 and when taking into account silver, lead and zinc byproducts the 100%-owned operation’s output topped 1m gold equivalent ounces.
Goldcorp recently announced that a $420m pyrite leach project at the mine is 40% complete and is expected to be commissioned three months ahead of schedule by the fourth quarter of 2018.
Goldcorp is the world’s number four producer of gold with output of just under 2.9m ounces in 2016, but the total will fall to around 2.5m ounces this year at an all-in cost of $825 per ounce. The company hopes to grow output by 20% by the end of the decade.