The Dome pit will be deeper and wider when the Century project goes ahead. (Image: Goldcorp)
ONTARIO – Vancouver-based Goldcorp has set a target of 60 million oz. of gold in reserves by 2021, and with the completion of the prefeasibility study for the Century project, it is more than one-third of the way there. At the end of June 2016, total gold in reserves was 42.3 million oz.
The Century project contains an estimated 5.7 million oz. of gold, with 4.7 million in proven and probable reserves.
The Century project will double the depth and diameter of the existing open pit above the Dome underground mine. The PFS will examine the proposed mine and 50,000 t/d mill with a 14-year mine life near Timmins. The initial capex will be $1 billion (all US dollars), give or take $50 million. Sustaining capital and an expansion of the tailings system will cost a further $350 million to $400 million.
Optimization of the PFS is underway to examine ore sorting technologies, co-mingling of tails and waste rock to reduce water use, conveying of ore from the pit, electrical and/or autonomous equipment, and improving plant design. The updated PFS is to be completed in the second half of 2018.
Meanwhile, Goldcorp reports third quarter net earnings of $111 million or $0.13 per share in 2017, compared to $59 million or $0.07 per share a year earlier. Production totaled 633,000 oz at all-in sustaining costs of $827 per oz.
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