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Goldcorp Announces First gold Production at Eleonore Mine in Quebec

Eleonore gold mine in Northern Quebec, Canada
Goldcorp Announces First gold Production at Eleonore Mine in Quebec

Goldcorp (TSX:G) (NYSE:GG), one of the world’s largest gold producers, announced on Thursday it has produced the first gold from its $1.8 billion Éléonore mine in Northern Quebec. The Canadian miner expects to produce between 40,000 and 60,000 ounces in 2014, reaching 7,000 tons a day by 2018.

"Following a four year development period I am pleased to announce first gold production at Éléonore, on schedule and in line with our capital cost guidance," said Chuck Jeannes, Goldcorp President and Chief Executive Officer. 

Declaring commercial production at Éléonore in the first quarter of 2015, the company said commissioning of the remainder of the plant is underway and production from the leaching and CIP circuit is expected later this month.

Capital costs for the mine remain unchanged at $1.8 and $1.9 billion.

“The team has done a tremendous job bringing this mine into production safely, in partnership with the Cree Nation of Wemindji, the Grand Council of the Crees of Eeyou Istchee/the Cree National Government (GCC(EI)/CNG) and our suppliers and contractors from Quebec,” Jeannes said.

Over 2,000 jobs were created during the development stage of the project, from which about 900 will be maintained as the mine moves towards full production.

Goldcorp is a senior gold producer with operations and development projects in Canada, United States, Mexico, and Central and South America. Headquartered in Vancouver, Canada, the company is committed to responsible mining practices.

Read the full press release here: http://www.goldcorp.com/English/About-Us/default.aspx

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