Goldcorp Inc. - Portfolio - Operations

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Éléonore is a world class, state of the art facility that is among the largest
gold mines in Quebec.

As of December 31, 2017

Contribution to
Total Production

Source: 2017 Annual Management Discussion and Analysis.

Notes

Contribution to
Total Revenue

Source: 2017 Annual Management Discussion and Analysis.

Notes

Gold Produced in 2017

(ounces)

305,000

Source: 2017 Annual Management Discussion and Analysis.

Notes

All-in Sustaining Cost

(per ounce)

$1,095

All-in sustaining costs (“AISC”) include total production cash costs incurred at Goldcorp’s (the “Company”) mining operations, which forms the basis of the Company’s by-product cash costs. Additionally, the Company includes sustaining capital expenditures, corporate administrative expense, exploration and evaluation costs, and reclamation cost accretion and amortization. The measure seeks to reflect the full cost of gold production from current operations, therefore growth capital is excluded. Certain other cash expenditures, including tax payments, dividends and financing costs are also excluded.

AISC is a non-GAAP performance measures that the Company believes more fully defines the total costs associated with producing gold; however, this performance measure has no standardized meaning. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP. The Company reports this measure on a gold ounces sold basis. The Company’s all-in sustaining cost definition conforms to the guidance note released by the World Gold Council, which became effective January 1, 2014. The World Gold Council is a non-regulatory market development organization for the gold industry whose members comprise global senior gold mining companies.

Notes

Quick Facts

Location	Eeyou Istchee/James Bay, Northern Quebec
Ownership	100%
Type of Mine	Underground
Processing Method	Conventional circuit, cyanide certified
Milling/Processing Capacity	7,000 tonnes per day
Power Demand	35 megawatts
Number of Employees & Contractors	1,180
Gold Production (guidance for 2018)	360,000 ounces
AISC (guidance for 2018)	$900 per ounce
Gold Reserves (proven and probable)	3.80 million ounces
Gold Resources (measured and indicated)	1.34 million ounces
Gold Resources (inferred)	1.99 million ounces
For additional information on the above June 30, 2017 reserves and resources, refer to the R&R table

Goldcorp’s newest Canadian gold mine, Éléonore is in Eeyou Istchee/James Bay, in a remote corner of the Northern Quebec region, 800 kilometres north of Montreal on the 52nd parallel. Its first gold pour was on October 1, 2014, and it achieved commercial production on April 1, 2015.

Gold comes from the Roberto Deposit, which is marked by complex folding and faulting and is still open down plunge. The ore is mined from four horizons using sill and stope techniques, then processed onsite using a conventional circuit that includes crushing, grinding, gravity, flotation and cyanidation. Overall gold recoveries are 92%.

The operation has begun to develop a fifth mining horizon and build a production shaft, both of which will bring Éléonore closer to its full production capacity, a key part of our plan to increase production by 20% by 2021.

What's New

Assessing the Effectiveness of Our New Community Response System at Éléonore
Éléonore poured its one-millionth ounce of gold in the last week of June 2018.
360 Tour - Éléonore
Community Champion Strengthens Bonds Between Éléonore and Cree First Nation

Exploration

Éléonore sits in the northeast corner of the Opinaca Reservoir within the contact zone between the La Grande and Opinaca geological sub-provinces. It’s an underexplored 150 square kilometre area with a huge potential for satellite deposits and other mines.

2017 summer exploration field season resulted in mapping, sampling and data integration over 9 early stage target areas, the first field work on the property in more than 10 years.

Éléonore’s exploration program has the following goals:

completing a life of mine study to determine a sustainable mining rate
continuing to test targets identified in the orebody to maximize value
continuing to update the geological model of the orebody
generating and prioritizing district-wide targets for follow-up evaluation.

Communities

Formal agreements with Indigenous groups

Goldcorp’s agreement with the Cree Nation of Wemindji, the Grand Council of the Crees (Eeyou Istchee) and the Cree Nation Government (formerly the Cree Regional Authority) includes provisions for training and employment, developing business opportunities and promoting education. It also outlines a dispute resolution mechanism, and integrates Cree Traditional Knowledge into the mine’s environmental management process.

Read the story behind the agreement EN FR
Read the Opinagow Collaboration Agreement (EN)
Entente de collaboration Opinagow (FR)

People

225

First Nations employees

Éléonore promotes a diverse workforce. Its employees come from all over Quebec, with one quarter identifying as First Nations. The mine’s Summer Student Employment Program gives post-secondary Cree students a chance to learn more about the mining industry as they gain new skills and hands-on work experience. Éléonore actively supports Goldcorp’s efforts to recruit and integrate more women into all aspects of mining.

Safety & Health

members of the workforce are members of the mine rescue, response or advance first aid teams

Éléonore has an impressive, award-winning safety record. In 2016, it had the lowest injury rate among metal mines in Canada, earning it the John T. Ryan and F. J. O’Connell trophies for its national and provincial safety records. The operation also won regional safety awards in 2015 and 2014.

Environment

$2.48 million

estimated electrical annual savings from ventilation on demand

Éléonore works hard to minimize its impact on the environment, and has water, tailings and waste treatment plans in place. It has also developed several projects that reduce energy consumption, like its automated fan system. The system powers on as needed, increasing worker safety and reducing costs.

Watch how we're building a connected mine with Cisco
Read more about how we manage our impact on the environment

The Interconnected Mine: Creating Efficiencies and Reducing Costs

At Éléonore, all underground workers, vehicles and other heavy equipment are outfitted with radio frequency identification tags that transmit a unique ID number via a WiFi connection to the Cisco access point throughout the mine. Telemetry units integrated into vehicles also monitor the functions and systems in the vehicle’s engine, and issue an alert to mine managers when something needs attention.

This allows the operation to:

make decisions using real-time information
monitor the location of people and equipment
operate equipment from surface between shifts
lower energy consumption by ventilating on demand.

Ventilation on demand means measuring air quality to make sure the right amount of air is sent only to where its needed – where work is being done or machines are in operation. The system has cut Éléonore’s electrical consumption in half, and also significantly reduced costs. Goldcorp is reviewing the feasibility of installing the same or similar ventilation systems at our underground mining operations at Musselwhite, Porcupine and Red Lake in Canada, and at our Cerro Negro project in Argentina.

The connected mine is just the first step toward autonomous mining, where cognitive analytics and machine learning are applied to processes and procedures to optimize production.