Goldcorp announces controlled shutdown at Penasquito mine
Goldcorp announced a controlled shutdown of operations at its Penasquito mine, following an illegal blockade by a trucking contractor that began September 26. Goldcorp recently undertook efforts to diversify its local transportation supply chain and distribute economic benefits to more local suppliers, while realizing cost efficiencies at the mine. Goldcorp remains committed to respectful negotiations with the trucking contractor's representatives. The company has taken all necessary legal steps, including filing criminal charges against the protest leaders and awaits legal enforcement to ensure a swift and orderly end to the illegal blockade. A comprehensive contingency plan is in place during this shutdown of operations that will enable mining and processing to be restarted immediately following resolution of the matter. Penasquito is located in the province of Zacatecas, Mexico and supports approximately 10,000 direct and indirect jobs. The mine is a major driver of the state economy, purchasing close to $600M in goods and services from Mexican suppliers last year and supporting a range of community projects in education, health care and community development. The company does not expect this to impact overall production and cost guidance for 2016.