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CANADIAN MINING PERSPECTIVES – Goldcorp receives permits for Penasquito development

MEXICO - Vancouver-based GOLDCORP has received all the permits required for construction and operation of its US$88...



MEXICO – Vancouver-based GOLDCORP has received all the permits required for construction and operation of its US$882-million Penasquito mine and mill in Zacatecas. The environmental impact assessment and the high-voltage power line have been approved. The company has also negotiated agreements for construction with the local municipality of Mazapil, and it has received the land use permit to allow mining on the property.

The company says Penasquito will be the largest mine in the country when full production is achieved. The project is slated for heap leach production by the middle of 2008, and then a 100,000-t/d flotation mill will be built for start-up by late 2009.

Proven and probable reserves currently contain 9.98 million oz of gold, 575 million oz of silver and 3.62 million t of zinc. Exploration drilling to expand these reserves continues, and Goldcorp expects to update reserves and resources in the second quarter of 2007.

Details of spending plans, the equipment fleets, the mill flowsheet and project schedule are posted with the presentations at www.Goldcorp.com.


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