GOLD: Goldcorp ounces up, costs down at year end

VANCOUVER – For 2014, Goldcorp reports that gold production is up 11% and costs have dropped 6%. Record quarterly production during Q4 was 886,000 oz, as a total of 2.87 million oz were produced last year. All in sustaining costs averaged US$1,045 in Q4 and US$950 per oz for the entire year.

And the future is bright. Goldcorp says 2015 gold production will grow about 20% to between 3.3 million and 3.6 million oz. AISC next year will be between US$875 and US$950 per gold ounce.

Although weakness at Los Filos (Mexico) and start-up issues at Éléonore (Quebec) affected output, they were offset by excellent results at the Penasquito mine (Mexico) and the start-up of three new mines – the aforementioned Éléonore, Cochenour (Ontario), and Cerro Negro (Argentina).

On the safety front, the company had no fatalities at its operations last year and the number of injuries was significantly reduced.

Separately, Goldcorp announced the sale of the Wharf gold mine (South Dakota) to Coeur Mining has been completed for US$105 million in cash, subject to certain closing adjustments.

Information about all of Goldcorp's mines and projects around the world are available at Goldcorp.com.