GOLD MINERS ROUNDUP
MAY 2018 • E&MJ; 31 www.e-mj.com
© 2018 Calumet Branded Products, LLC
W W W . B E L R A Y . C O M
M a i n t e n a n c e C o s t S a v i n g s
D e c r e a s e D o w n t i m e
E x t e n d C o m p o n e n t L i f e
R e d u c e C o n s u m p t i o n
O u t s t a n d i n g E x t r e m e P r e s s u r e , S h o c k
L o a d a n d A n t i - W e a r P r o p e r t i e s
The company reported it sold: Los
Filos to Leagold Mining Corp.; its 100%
interest in the Cerro Blanco project to
Bluestone Resources; its 21% interest
in the San Nicolas copper-zinc project;
and its 100% interest in the Camino
Rojo project, "part of the Peñasquito seg-
ment," to Orla Mining Ltd.
AISC fell 4% yoy to $824/oz, down
20% from the 2013 high of $1,031/oz.
It saw its average received price increase
2% yoy and ranked fourth out of the
group for the metric. Total ore processed
fell 36% yoy to 48.3 mt, and total gold
output fell 11%, the steepest decline for
the group. This happened according to
plan. "Gold production in 2017 exceed-
ed the midpoint of the company's gold
production guidance of 2.5 million oz,"
Goldcorp reported. Lower production and
gold sales were thus attributed to lower
grades, "an increase in operating costs,
and the impact of the receipt in 2016
of insurance proceeds relating to oxygen
plant failures in 2015." Total gold output
at Pueblo Viejo fell 7% yoy to 650,000
oz after rising 22% yoy in 2016. It rose
2% at Penasquito, to 476,000 oz after
declining a whopping 46% yoy in 2016.
The company is targeting reserves of
60 million oz by 2021. Last year, "its
proven and probable gold mineral re-
serves increased to 53.5 million oz at
June 30, 2017, from 42.3 million oz of
gold mineral reserves at June 30, 2016,
a 26% increase," Goldcorp reported. Re-
serves at Pueblo Viejo fell 10% yoy to 7.2
million oz as of December 31, 2017.
Goldcorp forecasts producing rough-
ly 2.5 million oz in 2018. Median guid-
ance for Pueblo Viejo is 600,000 oz,
Blasthole rigs drill the next round at the Fort Knox mine in Alaska. (Photo: Kinross)