The Canadian firm said its Escobal mine remains unaffected by the ongoing political turmoil in the country, which has forced President Otto Perez to resign amid a corruption scandal that gutted his government.
Argentina’s presidential election, the first to be decided in a second and final round since the constitution was changed in the 1990s, will be key for the country’s economy, particularly its mining sector.
The miners expect significant savings and environmental advantages by combining the two neighbouring projects, which are only 40 kilometres apart.
The company also said it will spend between $850 and $900 to produce an ounce of gold this year, less than its previous forecast of between $875 and $950.
The yellow metal was on the brink of five-year lows on Tuesday, with further losses expected in the coming months.
The news came on the same day Royal Bank of Canada downgraded Goldcorp’s stock to “sector perform” from “outperform,” citing concerns over the miner’s ability to continue paying its monthly dividend.
Gross proceeds of $998 million.
The sale would be one of the largest of a U.S. gold mine since the price of the precious metal began falling in 2013.
Much of the overall decline in reported gold output was due to a significant quarter-on-quarter production declines from AngloGold Ashanti, Goldcorp, and Sibanye Gold.
In Latin America, resource development and its economic benefits continue to butt heads with indigenous culture and tradition.
The company's stock is being ripped apart on both, the New York and the Toronto Stock Exchanges as a result.
Pick one: long gold or short gold?
Newmont, Kinross, Goldcorp and Iamgold among the companies said to be interested in all of part of Cripple Creek & Victor mine.
Premier gets the mine plus a $12.5 million injection from Goldcorp.
Eleonore is expected to eventually become Canada’s largest gold producing mine.
Three corpses were found on Friday in a mass grave in southwestern Mexico's Guerrero state.
The probable kidnapping of 4 workers at Goldcorp's Los Filos mine is just the latest in a string of mine incidents in Guerrero, Mexico's most violent state.
The move signals an important step forward for the mining industry, a leading contributor to the Canadian economy.
$2.3 billion charge against Cerro Negro mine in Argentina one writedown too many for battered investors.
The move will see the miner taking control of the Borden Gold project in northern Ontario.
Goldcorp Inc. could soon join an inglorious group: large gold miners that have a net loss to show for their entire history as corporate entities.
An open pit operation with 170 workers.
The deals that were and those that failed. Here is MINING.com’s shortlist.
President Otto Perez Molina has approved a new rule passed by the Congress last week, which rises taxes to transnational miners operating in the country from 1% to 10%.
The country’s congress passed Friday legislation to increase mining royalties from 5% to 10%.
The mine is expected to produce 4,000 tons/day of gold and silver concentrate during its 23 years of life.
Get Mining News and Alerts
sent to your inbox daily