Toronto Stock Exchange: G New York Stock Exchange: GG
VANCOUVER, Jan. 25 /CNW/ - GOLDCORP INC. (TSX: G, NYSE: GG) today announced the signing of a Power Delivery Agreement with a
subsidiary of InterGen, the global power generation company with power
plants located in Mexico, the UK, the Netherlands, the Philippines and
Australia. The agreement will see InterGen construct and operate a
200-250MW gas-fired combined cycle power plant to deliver electricity
to the Peñasquito mine in Zacatecas, Mexico for a minimum term of 20
years. This Agreement helps secure a long-term supply of electricity
to Peñasquito at stable pricing with anticipated substantial cost
savings compared to current arrangements.
Later this year, and during construction of the new plant, Peñasquito
will also benefit from an interim reduction in existing electricity
rates. The project is subject to regulatory and environment approvals
and is expected to begin construction later this year with completion
by 2014.
Goldcorp is one of the world's fastest growing senior gold producers.
Its low-cost gold production is located in safe jurisdictions in the
Americas and remains 100% unhedged.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements", within the
meaning of the United States Private Securities Litigation Reform Act
of 1995 and applicable Canadian securities legislation, concerning the
business, operations and financial performance and condition of
Goldcorp Inc. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold, silver,
copper, lead and zinc, the estimation of mineral reserves and
resources, the realization of mineral reserve estimates, the timing and
amount of estimated future production, costs of production, capital
expenditures, costs and timing of the development of new deposits,
success of exploration activities, permitting time lines, hedging
practices, currency exchange rate fluctuations, requirements for
additional capital, government regulation of mining operations,
environmental risks, unanticipated reclamation expenses, timing and
possible outcome of pending litigation, title disputes or claims and
limitations on insurance coverage. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology
such as "plans", "expects" "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", "believes" or the
negative connotation thereof or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved" or the
negative connotation thereof. All forward-looking statements are
developed based on assumptions about such risks, uncertainties and
other factors set at herein. Forward-looking statements are subject
to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or
achievements of Goldcorp to be materially different from those
expressed or implied by such forward-looking statements, including but
not limited to: risks related to the integration of acquisitions; risks
related to international operations; risks related to joint venture
operations; actual results of current exploration activities; actual
results of current reclamation activities; conclusions of economic
evaluations; changes in project parameters as plans continue to be
refined; future prices of gold, silver, copper, lead and zinc; possible
variations in ore reserves, grade or recovery rates; failure of plant,
equipment or processes to operate as anticipated; accidents, labour
disputes; delays in obtaining governmental approvals or financing or in
the completion of development or construction activities and other
risks of the mining industry, as well as those factors discussed in the
section entitled "Description of the Business - Risk Factors" in
Goldcorp's annual information form for the year ended December 31, 2009
available at www.sedar.com. Although Goldcorp has attempted to
identify important factors that could cause actual results to differ
materially from those contained in forward-looking statements, there
may be other factors that cause results not to be as anticipated,
estimated or intended. There can be no assurance that such statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. The forward-looking statements contained in this press release are made
as of the date of this press release and, accordingly, are subject to
change after such date. Except as otherwise indicated by Goldcorp,
these statements do not reflect the potential impact of any
non-recurring or other special items or of any dispositions,
monetizations, mergers, acquisitions, other business combinations or
other transactions that may be announced or that may occur after the
date hereof. Forward-looking statements are provided for the purpose
of providing information about management's current expectations and
plans and allowing investors and others to get a better understanding
of Goldcorp's operating environment. Goldcorp does not undertake to update any forward-looking statements
that are included in this document, except in accordance with
applicable securities laws.