GOLD PRODUCTION: Goldcorp sets record at 2.52M oz

VANCOUVER - Goldcorp set a gold production record in 2010 at 2.52 million oz, including 686,300 oz in Q4. Cash costs per ounce were $US285. Total 2011 output is forecast to grow to 2.70 million oz, and over five years output is expected to...

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VANCOUVER - Goldcorp set a gold production record in 2010 at 2.52 million oz, including 686,300 oz in Q4. Cash costs per ounce were $US285. Total 2011 output is forecast to grow to 2.70 million oz, and over five years output is expected to increase 60%.

"The key operational milestone for the year was the on-time start of commercial production and smooth ramp-up at Penasquito, which is now positioned to generate strong cash flow in 2011 and well into the next decade," said Goldcorp president and CEO Chuck Jeannes. "Red Lake continued its outstanding performance, ending the year at over 700,000 oz of gold production at very low cash costs. Young, foundational mines like Marlin and Los Filos hit their strides during the year, while major exploration success at all three Canadian mines has created the opportunity for enhanced production and cash flow from these long-lived assets."

CMJ is publishing a feature story on Goldcorp's Red Lake, ON, operation in the February/March issue.

A complete list of Goldcorp's 2010 production and 2011 forecast by individual mines is posted in the news section at www.Goldcorp.com.

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