Our Company

Goldcorp is a leading gold producer focused on responsible mining practices with safe, low-cost production throughout the Americas. A portfolio of long-lived, high-quality assets positions us to deliver long-term value. Our operating cash flows are from the sale of gold and by-products, such as silver, copper, lead and zinc. In 2016, our operations, projects and offices engaged in gold mining and related activities including exploration, extraction, processing and reclamation.

Our principal producing mining properties are: the Éléonore, Musselwhite, Porcupine and Red Lake mines in Canada; the Peñasquito mine in Mexico; the Cerro Negro mine in Argentina; and the Pueblo Viejo mine (40% interest) in the Dominican Republic. Our current sources of operating cash flows are primarily from the sale of gold, silver, lead, zinc and copper. Our principal product is gold doré with the refined gold bullion sold primarily in the London spot market.

Headquartered in Vancouver, British Columbia, we employ and contract over 15,000 people throughout the Americas.

Our vision is to create sustainable value for all our stakeholders by focusing on growing net asset value (NAV) per share to generate long-term shareholder value. With a portfolio of large, long-life assets that provide economies of scale, coupled with low cash costs and underpinned by a strong balance sheet, we continue to optimize our portfolio of assets and reinvest in the pipeline of organic opportunities to drive increasing NAV per share.

In 2016, we achieved gold production of 2.9 million ounces. We paid over US$500 million in wages and salaries and over US$408 million to subcontractors. We are focused on our renewed growth strategy, which projects a 20% increase in gold production, a 20% increase in gold reserves and a 20% reduction in all-in sustaining costs (AISC) over the next five years, while ensuring we create sustainable value for our shareholders, employees, contractors and partners. For a full review of Goldcorp’s 2016 financial performance, please refer to our audited consolidated financial statements and our Management’s Discussion and Analysis (MD&A) for the year ended December 31, 2016.

Operational Structure

Goldcorp is a leading gold producer engaged in gold mining and related activities including exploration, extraction, processing and reclamation. At December 31, 2016, our principal producing mining properties were the following:

Gold By-products
Silver Zinc Lead Copper
Canada
Red Lake X
Porcupine X
Musselwhite X
Éléonore X
Latin America
Peñasquito X X X X
Los Filos X
Marlin X X
Alumbrera X X
Pueblo Viejo X X X
Cerro Negro X X

Significant Changes during 2016

In 2016, there were a number of important events, as per our financial highlights:

  • We completed a reorganization of our leadership and operations, moving to a leaner, decentralized model. Under this model, the Mine General Managers are accountable for growing the Net Asset Value (NAV) of their individual businesses while the focus of the corporate office is to provide guidance and oversight, as well as to allocate capital.
  • We laid out a growth strategy that is expected to deliver a 20% increase in gold production, a 20% increase in gold reserves and a 20% reduction in all-in sustaining costs over the next five years. In this pursuit, we continue to be committed to being responsible stewards of the environment and building collaborative partnerships with communities, governments and all other stakeholders for mutual success.
  • On July 19, 2016, we completed the acquisition of Kaminak Gold Corporation. Kaminak’s principal asset is the 100% owned Coffee project, a hydrothermal gold deposit located approximately 130 kilometres south of the City of Dawson, Yukon.
  • In September 2016, we announced the appointment of Charlie Sartain to our Board of Directors, effective as of January 1, 2017. Mr. Sartain is a mining engineer with over 30 years of mining experience and was previously the Chief Executive Officer of Xstrata’s global copper business.
  • In January 2017, we entered into agreements to sell our Los Filos mine in Mexico and our Cerro Blanco project in Guatemala to Leagold Mining Corporation and Bluestone Resources Inc., respectively.

Further information regarding these and other events is available in our Management’s Discussion and Analysis (MD&A) for the year ended December 31, 2016.