Goldcorp & The World’s Richest Gold Mine
Located in one of the world’s most prolific gold districts, Red Lake is Goldcorp’s top producer, yielding in excess of 650,000 ounces annually at very low cash costs. The High Grade Zone is the backbone of the Red Lake operation, with an average grade of more than two ounces of gold per tonne. Recent investments in infrastructure and development have positioned this renowned mine for many more years of long-term sustainable production.
The Bruce Channel discovery at the nearby Cochenour project secures control of eight kilometers of strike length in the heart of the Red Lake trend. Development of the Cochenour project is advancing toward first gold production in late 2014.
| KEY OPERATIONAL FACTS | |
|---|---|
| Location | Red Lake, Ontario |
| Workforce (including contractors) | 1,280 |
| Estimated mine life (reserves) | 12 years |
| Mining type | Longhole, Underhand and Overhand Cut and Fill |
| Processing method | Cyanidation |
| Power usage | 42 MW/hr |
| Milling/Processing capacity | 3,100 tpd |
| 2012 gold production estimate | 650,000 oz |
| GOLD RESERVES | |
|---|---|
| Proven (oz) | 980,000 |
| Probable (oz) | 2,970,000 |
| Proven and Probable (oz)* | 3,950,000 |
* Due to rounding, numbers may not add up.
| KEY FACTS SUMMARY | 2011A | 2010A | 2009A |
|---|---|---|---|
| Operating data | |||
| Gold produced (oz) | 622,000 | 703,300 | 622,700 |
| Gold sold (oz) | 623,200 | 701,000 | 635,300 |
| Ore milled/processed (t) | 839,600 | 876,600 | 781,700 |
| Gold grade (g/t) | 23.92 | 26.0 | 26.0 |
| Gold recovery (%) | 97% | 97% | 97% |
| By-product cash costs (US$/oz) | $360 | $297 | $288 |
| Realized gold price (US$/oz) | $1,554 | $1,233 | $982 |
| Throughput (tpd) | 2,330 | 2,440 | 2,170 |
| Mining costs per tonne mined (US$/t moved) | $178 | $161 | $163 |
| Processing costs per tonne milled (US$/t milled) | $37 | $34 | $34 |
| Financial data (US$ millions) | |||
| Revenues | $971 | $866 | $625 |
| Depreciation and depletion | $89 | $112 | $101 |
| Earnings from operations | $636 | $528 | $329 |
| Expenditures on mining interests | $268 | $204 | $110 |
Short URL: http://woodlawnpost.com/?p=42465
Posted by WoodlawnPost
on Mar 16 2012. Filed under N. America.
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