Toronto Stock Exchange: G
New York Stock Exchange: GG
(All Amounts in $US unless stated otherwise)
VANCOUVER, Dec. 19, 2011 /CNW/ - GOLDCORP INC. (TSX: G, NYSE: GG) has been advised by the Government of Guatemala that the Inter-American
Commission on Human Rights (IACHR) of the Organization of American
States has notified the State of Guatemala, that "after reviewing the
extensive information provided by the parties, the IACHR decided to
modify the precautionary measures" adopted in May 2010 with respect to
the Marlin Mine. The modified precautionary measures do not request
that operations at the Marlin Mine be suspended as did the initial
precautionary measures. Normal operations have continued at Marlin
throughout the IACHR process.
"Goldcorp is gratified that the IACHR has taken into account the
extensive information available, including water quality monitoring
since before mine construction began and technical studies, which
demonstrates that the Marlin mine is not causing and has not caused
harm to human health or the environment, and has removed the suspension
of Marlin operations from the precautionary measures," said Chuck
Jeannes, Goldcorp President and Chief Executive Officer. "We take
seriously our commitment to the responsible stewardship of the
environment and to the human rights of the people in communities near
Marlin. We are proud of Goldcorp's record of safe, responsible conduct
at Marlin and everywhere we operate."
The IACHR's action follows a petition by the Presidential Commission on
Human Rights, on behalf of the Government of Guatemala, that the IACHR
declare the precautionary measures without further effect. The
Government's petition was based on the determination of the
administrative process specified by Guatemala's Mining Law that "no
proof exists that there is any situation presenting a threat of serious
or imminent harm to persons or that there is a probability that any
damage will materialize and therefore there does not exist a situation
of extreme seriousness or urgency to avoid irreparable harm to persons
as a result of operations at the Marlin mine."
The modified precautionary measures request the Government to ensure the
quality of water sources serving the 18 communities identified in the
petition filed with the IACHR is suitable for potable, domestic and
irrigation uses. The modified measures also request that the Government
advise the IACHR as to the manner in which it is fulfilling this duty.
Since the start of operations at Marlin, Guatemala's Ministry of Energy
and Mines and Ministry of Environment and Natural Resources have
monitored the Company's mining activities. In addition, the Company and
the Community Environmental Monitoring Association have monitored water
quality in accordance with the requirements established in the
environmental permits for the Mine. All results of this monitoring have
indicated that the operations are carried out strictly in compliance
with the applicable national and international standards.
The Marlin Mine currently employs 2,300 people with a payroll in 2011
totaling over $23.1 million. Approximately 70% of employees are Mayan
indigenous residents of San Miguel Ixtahuacán and Sipacapa and 98% are
from Guatemala.
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. ("Goldcorp"). 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
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.
Forward-looking statements are made based upon certain assumptions and
other important factors that, if untrue, could cause the actual
results, performances or achievements of Goldcorp to be materially
different from future results, performances or achievements expressed
or implied by such statements. Such statements and information are
based on numerous assumptions regarding present and future business
strategies and the environment in which Goldcorp will operate in the
future, including the price of gold, anticipated costs and ability to
achieve goals. Certain important factors that could cause actual
results, performances or achievements to differ materially from those
in the forward-looking statements include, among others, gold price
volatility, discrepancies between actual and estimated production,
mineral reserves and resources and metallurgical recoveries, mining
operational and development risks, litigation risks, regulatory
restrictions (including environmental regulatory restrictions and
liability), activities by governmental authorities (including changes
in taxation), currency fluctuations, the speculative nature of gold
exploration, the global economic climate, dilution, share price
volatility, competition, loss of key employees, additional funding
requirements and defective title to mineral claims or property.
Although Goldcorp has attempted to identify important factors that
could cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as anticipated,
estimated or intended.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other important 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, including economical and political instability in foreign
jurisdictions in which Goldcorp operates; risks related to current
global financial conditions; risks related to joint venture operations;
actual results of current exploration activities; environmental risks;
future prices of gold, silver, copper, lead and zinc; possible
variations in ore reserves, grade or recovery rates; mine development
and operating risks; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing or in the completion of development or construction
activities; risks related to indebtedness and the service of such
indebtedness, 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, 2010 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. Forward-looking
statements are made as of the date hereof 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 our 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.