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Goldcorp Inc. was a gold production company headquartered in Vancouver, British Columbia, Canada. The company stood among the largest gold producers in the world, employed about 15,800 people worldwide,[4] engaged in gold mining and related activities including exploration, extraction, processing and reclamation. Goldcorp’s operating assets included eleven mines in North and South America.[5]

Key Information

In 2019, Goldcorp merged with Newmont Mining Corporation, the world’s second-largest producer of gold.[6]

In June 2016, Goldcorp was named one of Corporate Knights magazine's Best 50 Corporate Citizens in Canada.[7] In the same year, the company was also ranked among Canada's Top 100 Employers. Goldcorp has repeatedly been accused of harming the environment, livestock, and public health in multiple studies by advocacy groups and activists, contaminating areas with toxic heavy metals by its mining activities. These allegations have been denied by the company and none have been proven in a court of law.[8] The company's track record around transparency, policies and practices has improved[9] since a damning 2010 study accused the company of human rights violations.

Operations

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Operating locations

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Goldcorp’s operating assets included mines in Canada, Mexico, Central and South America.[10] Goldcorp also has a number of projects including the Coffee, Cochenour and Borden projects in Canada,[citation needed] and NuevaUnión (formerly known as Project Corridor), a joint venture with Teck Resources in Chile.[11]

Mines

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  1. Red Lake mine (Canada)
  2. Porcupine mine (Canada)
  3. Musselwhite mine (Canada)
  4. Éléonore mine (Canada)
  5. Peñasquito mine (Mexico)
  6. Cerro Negro mine (Argentina)
  7. Marlin mine (Guatemala)
  8. Pueblo Viejo mine (Dominican Republic - 40% ownership)
  9. Alumbrera mine (Argentina - 37.5% ownership)
  10. Coffee project (Canada)
  11. Cochenour project (Canada)
  12. Borden project (Canada)
  13. NuevaUnión project (Chile - 50% ownership)
  14. Hollinger Mines (Canada)

In 2017, Goldcorp announced it had formed a 50/50 joint venture with Barrick Gold to consolidate the Maricunga Gold Belt in the Atacama Region of northern Chile. On June 9, Goldcorp acquired the minority 25% interest held by Kinross Gold in Cerro Casale and 100% interest in the Quebrada Seca exploration project for US$260 million [12] and a 1.25% royalty interest in favor of Kinross on 25% of gross revenues from payable metal from Cerro Casale and Quebrada Seca, with Kinross foregoing the first $10 million payable, a contingent payment of $40 million payable after a construction decision at Cerro Casale, and assumption of a $20 million obligation to Barrick payable on commercial production at Cerro Casale.[13]

In April 2017, Goldcorp closed on the sale of its Los Filos gold mine Guerrero State, Mexico to Leagold Mining for US$350 million. The transaction included US$279 million in cash and $71 million in common shares of Leadgold. Goldcorp also nominated Russell Ball, the Leagold's board of directors.[14]

In June 2017, Goldcorp announced it had formed a 50/50 joint venture with Barrick Gold to develop the Maricunga District in Chile.[15] The transaction included the acquisition of Exeter Resource Corp. along with a US$260 million payment at closing to Kinross Gold. Goldcorp also granted Kinross a 1.25% royalty on the Cerro Casale and Quebrada Seca deposits.[16]

A week-long protest and blockade disrupted operations at the Peñasquito mine during the first week of October 2017.[17]

Financial

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2017

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In Q2 2017, Goldcorp reported net earnings of US$135 million and production of 635,000 ounces of gold. [18]

In Q1 2017, Goldcorp reported net earnings of US$170 million and production of 655,000 ounces of gold. [19]

2016

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In 2016, Goldcorp produced 2.873 million ounces of gold at all-in sustaining costs of $856 per ounce. [20]

2015

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In 2015, production totalled 909,400 ounces for the fourth quarter and 3,464,400 ounces for the full year 2015,[citation needed] compared to 890,900 ounces and 2,871,299 ounces, respectively, in 2014.[citation needed]

Financials (US $ Millions) 2015 2014
Revenues $4,375 $3,436
Adjusted Net Earnings ($88) $498
Cash Flow from Operations $1,430 $1,014
Cash & Cash Equivalents $326 $482
Total assets at Dec 31 $21,428 $27,866

History

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Goldcorp was officially incorporated in 1994. Following a period of M&A activity, the company quickly grew to become a leading gold producer. The company is focused on responsible mining practices with safe, low-cost production in areas of low political risk. Through the consistent application of its business strategy, Goldcorp has achieved significant growth, industry recognition, and numerous awards.

In 2000, Goldcorp founder Rob McEwen launched the Goldcorp Challenge, sharing with the public the company’s geological data with the offer of $575,000 in prizes to those who could help locate Red Lake mine’s next six million ounces of gold. The challenge was successful, with more than 110 sites identified and more than 80 percent of sites yielding significant gold reserves. The challenge helped turn the company from a struggling enterprise into one of the most profitable in the industry.

As of the third quarter of 2014, Goldcorp was the world's fourth-largest producer of gold.[21]

In January 2017, Goldcorp announced it had divested two non-core assets through the sales of the Cerro Blanco Gold Project in Guatemala to Bluestone Resources,[22] as well as the Los Filos Mine in Mexico to Leagold Mining.[23]

In January 2017, Goldcorp reported preliminary full year 2016 production totaling 2.873 million ounces of gold at all-in sustaining costs of around $850 per ounce. The Company expects to increase total annual gold production by over 20% over the next five years to more than three million ounces annually.[24]

In February 2017, Goldcorp announced it had purchased New Gold's 4% gold stream on the El Morro deposit. The El Morro deposit is part of NuevaUnión, a 50/50 joint venture with Teck Resources that combines the Relincho and El Morro deposits. [25]

On 14 January 2019, Goldcorp agreed to a merger acquisition by Newmont Mining Corporation, the world’s second-largest producer of gold, with the merged "Newmont Goldcorp" to be the world’s largest producer.[26] In 2020, the merged company's name was shortened to Newmont.[27]

Environmental impact

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The environmental, economic and human impact of the company’s Latin American mines has been a controversial topic for a number of years.

San Martin Mine, Honduras

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A study by Italian activist Flaviano Bianchini in 2006 found dangerous levels of arsenic and lead in the blood of Hondurans living downstream from Goldcorp's San Martín mine, located in the Siria Valley.[28] While people living in the valley had equated their health problems with the mine's operations since it opened in 1999, both the company and the Honduran government disputed the study's findings.[29] Honduran authorities, the company said, took water samples during three visits in 2008 and all pH measurements were normal. They also reviewed and approved the mine's closure plan.

In 2009, two studies commissioned by the UK-based advocacy group CAFOD have found the company's methods to extract gold from low-grade deposits also releases other toxic heavy metals such as arsenic, mercury and lead, contaminating streams and groundwater. The first study from Newcastle University detected acidic mine drainage, whereby sulphides in the rock are exposed to oxygen and water and produce sulphuric acid, which can have devastating effects on animals and plants. A follow-up study by the same university found evidence of "severe" contamination in the form of highly acidic and metal-rich water from the mine site flowing into a stream used by villagers for agriculture and domestic purposes.[30]

Since the closure of San Martin mine in 2008, the 1,500 hectare former mine site has been reclaimed into agricultural farmland and the former camp facilities remodeled into an ecotourism hotel. These developments have since provided employment, skills training and new investment to the area.

Marlin Mine, Guatemala

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An investigative report by the CTV Television Network's W5, published on their website on April 17, 2010, reported criticism by human rights workers about the damage they believe mining companies were doing to the people, the land, and the culture of Guatemala.[31] The same news program ran a four-part documentary entitled "Paradise Lost" which explored some of the controversy surrounding Goldcorp's Marlin mine operation, and investigated the economic, environmental, and social costs and benefits of Canadian mining operations in Central America.[32]

At the request of Goldcorp shareholders, an independent human rights impact assessment (HRIA) was conducted by external auditors in 2010.[29] Goldcorp has since implemented all recommendations from the HIRA, including the publishing of an official Human Rights Policy in 2010.

On 15 July 2012, the self-organized International Peoples’ Health Tribunal, a panel of twelve "judges" with backgrounds in science, health, ecology, and human rights met in Guatemala to hear testimony relating to the effects of Goldcorp's South American mines. After the two-day tribunal, the panel found Goldcorp financially liable for health and ecological damages to the communities near its mines in Honduras, Guatemala, and Mexico.[33]

Pueblo Viejo, Dominican Republic

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This section is an excerpt from Pueblo Viejo mine.[edit]

Pueblo Viejo mine is an open-pit gold and silver mine in the Sánchez Ramírez Province of the Dominican Republic where mining operations started in 2012 and expect to cease in 2041.[34] It is the largest gold mine in Latin America and 13th largest gold mine in the world.[35] The mine is run by Pueblo Viejo Dominicana Corporation (PVDC), which is 60% owned by Barrick Gold Corporation and 40% owned by Newmont Corporation.[34]

Pueblo Viejo employs approximately 2,350 employees and 2,500 contractors.[36] The economic activities of the mine represent 2% of the Dominican Republic’s gross domestic product[37] and Pueblo Viejo is the largest corporate taxpayer in the country.[38]

The mine has generated an environmental conflict, because pollution from the tailings dam and windblown particulates have contaminated rivers and killed local livestock who ingested the toxins.[39] Local communities say that the mine has ruined their lives and caused many health problems: skin lesions are common;[40] children are sickened by chemical vapors;[41] and agricultural land is no longer productive.[42] Local people have asked to be relocated away from the mine since 2013,[43] but neither the government nor the company have responded to their requests.

The company proposed to expand the mine in 2019, meeting with fierce resistance from communities in Yamasá who would be impacted by the expansion.[44]

See also

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References

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[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Goldcorp

View on Grokipedia
from Grokipedia
Goldcorp Inc. was a Canadian multinational corporation specializing in gold production through the operation, exploration, development, and acquisition of precious metal properties primarily in North and South America. Headquartered in Vancouver, British Columbia, the company grew significantly via strategic acquisitions, such as Wheaton River Minerals in 2005, expanding from domestic operations to international assets including mines in Mexico, the United States, and Central America. At its peak, Goldcorp ranked among the world's largest gold producers, with notable projects like the Peñasquito mine in Mexico representing substantial output capacity. In April 2019, Newmont Corporation acquired Goldcorp in a stock-for-stock transaction valued at $10 billion, merging the entities to form the industry's leading gold company by production and reserves. Goldcorp pioneered crowdsourced data analysis in mining via the 2000 Goldcorp Challenge, awarding prizes for identifying untapped deposits using historical drilling data, which yielded eight new zones and over 8 million ounces of gold. However, operations faced controversies, including allegations of environmental contamination and human rights violations at the Marlin mine in Guatemala, where independent assessments documented impacts on local health, water quality, and community rights, though company-commissioned reviews disputed the extent of harms.

Corporate Profile

Founding and Headquarters

Goldcorp Inc. originated in 1983 as a closed-end focused on investments in stocks and . In the late , Rob McEwen assumed control and directed its transformation from a passive investment vehicle into an active enterprise, beginning with the 1989 acquisition of Dickinson Mines, which provided operational assets in . This shift marked the company's entry into production, emphasizing exploration and development of high-grade deposits such as those at Red Lake. The company was headquartered in , , , a location that supported its North American operations and regulatory environment until its 2019 acquisition by Corporation, after which the Vancouver office served as Newmont Goldcorp's regional hub for the region. This base facilitated proximity to key Canadian mining assets and talent pools in the resource sector.

Business Model and Strategic Focus

Goldcorp operated as a mid-tier producer engaged in the operation, exploration, development, and acquisition of properties, with a primary emphasis on in stable jurisdictions across the to minimize . The company's centered on extracting and selling from high-quality, long-life assets, generating the vast majority of its revenue from sales—81.5% of $3.5 billion in total revenue in 2016, supplemented by byproducts such as silver (11%) and base metals like , , and lead (7.5%). production remained 100% unhedged, allowing direct exposure to price fluctuations for shareholders while prioritizing and cost discipline to sustain profitability across market cycles. Strategically, Goldcorp focused on building a portfolio of Tier 1 assets—defined as large-scale, low-cost mines with expandable reserves in prospective districts—targeting production growth from 2.87 million s in to 3-4 million s annually by through six to eight major development projects. The company aimed to expand proven and probable reserves from 42.3 million s in to 50 million by the same period via aggressive and selective acquisitions, while reducing all-in sustaining costs (AISC) from $856 per to under $700 per to enhance margins and generation. This approach emphasized responsible practices, continuous improvement in operational metrics, and value creation in low-risk regions, including , , the , , and the , where approximately 75% of reserves were located. In 2017, Goldcorp achieved 2.6 million s of attributable production, underscoring its execution on these priorities prior to its acquisition by Corporation.

Operations

Major Producing Mines

Goldcorp's major producing mines, operational prior to its 2019 acquisition by Newmont Corporation, were concentrated in , , the , and , contributing to the company's total gold output of 2.294 million ounces in 2018. These assets emphasized a mix of open-pit and underground operations, with a focus on low-cost, high-margin . The Peñasquito mine, located in Zacatecas State, , served as Goldcorp's largest operation and one of the world's top open-pit polymetallic mines, yielding alongside significant silver, lead, and byproducts. In 2018, it produced 272,000 ounces of , supporting broader gold equivalent output through its sulfide concentrator and heap leach facilities. The mine's scale, with over 6,500 direct employees and indirect support for 20,000 jobs, underscored its economic role, though it faced periodic labor and environmental challenges. Cerro Negro, an underground mine in Santa Cruz Province, Argentina, was a high-grade, low-cost asset that achieved full ramp-up in 2018, processing ore at 4,000 tonnes per day. It delivered 489,000 ounces of gold that year at all-in sustaining costs of $535 per ounce, benefiting from its district-scale vein systems and efficient milling. Acquired and developed by Goldcorp starting in 2010, the mine exemplified the company's strategy for rapid value extraction from new discoveries. In the , Pueblo Viejo, a with Barrick Gold Corporation where Goldcorp held a 40% stake, operated as a large-scale open-pit and underground complex. The mine's total 2018 gold production reached approximately 968,000 ounces, with Goldcorp's attributable share around 387,000 ounces based on its ownership proportion and Barrick's reported metrics. This operation, featuring processing for , provided diversified exposure amid Goldcorp's portfolio. Other notable producers included Éléonore in , , which ramped up underground production in 2018 toward its targeted 500,000-ounce annual capacity, and Musselwhite in Ontario, , a consistent underground performer contributing roughly 200,000 ounces annually through selective mining of high-grade zones. These Canadian assets highlighted Goldcorp's emphasis on tier-one jurisdictions with strong reserve replacement potential.

Exploration and Development Activities

Goldcorp maintained an active program emphasizing brownfield opportunities near operating assets and select greenfield initiatives to drive reserve replacement and production growth. The company allocated significant capital to , geophysical surveys, and delineation, with expenditures reaching $120 million on proprietary properties in alone. By , exploration successes had positioned Goldcorp to increase proven and probable reserves for the seventh consecutive year, primarily through discoveries at existing districts. In 2016, updated mineral reserves stood at 1.69 million ounces of as of June 30, reflecting ongoing efforts. This approach extended into 2018, with extensive programs anticipated to support reserve expansion and new land staking over prospective greenstone belts. A of development activities was the Cochenour project in Ontario's Red Lake district, which integrated historic workings with the discovery. Goldcorp advanced the site through shaft upgrades, 5 km drift construction, and over 27,000 meters of diamond drilling between 1999 and 2004, followed by continued exploration and infrastructure work to extend mine life at the nearby Red Lake operation. The project targeted high-grade underground resources via a high-speed connection, with activities ramping up by 2013 to leverage proximity to prolific gold trends. In greenfield pursuits, the Coffee Gold project in , , represented a major focus after Goldcorp's $520 million acquisition of Kaminak Gold in 2016. The asset featured multiple gold zones suitable for , with Goldcorp conducting further exploration drilling across 15 mineralized areas—including Supremo, , and Double-Double—to expand resources and advance engineering studies toward potential production. A 2016 outlined a measured and indicated resource base, underscoring the project's scale as one of 's larger undeveloped heap-leach opportunities. Goldcorp also progressed large-scale development through the NuevaUnión , formed in 2015 as a 50/50 partnership with by combining the El Morro and Relincho copper-gold-molybdenum deposits in Chile's . The project, one of the world's largest undeveloped porphyry systems, involved ongoing feasibility work, drilling to refine geological models, and infrastructure planning for an estimated 36-year mine life producing 395,000 ounces of annually alongside and . By , advancement included environmental assessments and resource optimization to position it for future construction. Regional exploration complemented these efforts, such as a 2018 joint venture with Minera Frisco at the Peñasquito mine area in to target underexplored trends in the Mazapil Valley through shared drilling and geophysical campaigns. Overall, these activities underscored Goldcorp's emphasis on high-potential districts, though outcomes depended on metallurgical viability, permitting, and commodity economics.

Financial Performance

Goldcorp's production declined from 2.873 million ounces in 2016 to 2.569 million ounces in 2017 and further to 2.294 million ounces in 2018, reflecting operational challenges including lower output at key assets like Peñasquito due to reduced grades and volumes. followed a similar downward trajectory, falling from $3,510 million in 2016 to $3,423 million in 2017 and $3,032 million in 2018, driven by decreased production volumes despite relatively stable average prices. All-in sustaining costs (AISC) per ounce remained relatively stable but trended upward slightly, increasing from $856 in 2016 to $824 in 2017 before rising to $851 in , influenced by higher cash operating costs and reduced by-product credits amid lower output. Total cash costs per ounce also fluctuated, dropping to $499 in 2017 from $573 in 2016 before climbing to $548 in . Earnings from mine operations decreased from $896 million in 2017 to $503 million in , while operating cash flows contracted from $1,211 million to $791 million over the same period. Net earnings shifted dramatically to a loss of $4,149 million in 2018 from profits of $658 million in 2017 and $162 million in 2016, primarily attributable to $4,727 million in non-cash impairment charges on interests. Adjusted net earnings, excluding such one-time items, declined more gradually from $302 million in 2016 to $360 million in 2017 and $63 million in 2018. These trends underscored pressures from declining reserves at mature assets and rising sustaining capital needs, though select operations like Red Lake showed production gains and cost reductions in 2018.
YearGold Production (million oz)Revenue ($ millions)AISC ($/oz)Net Earnings ($ millions)
20162.8733,510856162
20172.5693,423824658
20182.2943,032851-4,149

Significant Transactions and Valuation

In , Goldcorp acquired Wheaton Minerals Ltd. in a $2.4 billion all-stock merger, which was approved by shareholders on and completed in , significantly expanding Goldcorp's portfolio to include operations in , , and , thereby boosting annual production toward one million ounces. In 2016, Goldcorp completed the acquisition of Kaminak Gold Corporation on July 19 for approximately C$520 million (equivalent to about $400 million at prevailing exchange rates) through a share exchange of 0.10896 Goldcorp shares per Kaminak share, adding the high-potential Coffee Gold project in , , to its development pipeline and enhancing long-term reserves. The most transformative transaction occurred in 2019 when announced on January 14 its acquisition of Goldcorp in an all-stock deal valued at US$10 billion, involving an exchange ratio of 0.3280 shares plus US$0.02 cash per Goldcorp share; the merger closed on April 18, creating as the world's largest producer by output and reserves, with the combined entity expected to realize immediate per share accretion of 27% for shareholders through portfolio optimization and asset sales projected at US$1-1.5 billion over two years. This valuation reflected Goldcorp's strategic assets like Peñasquito and mines amid rising prices, though independent analyses noted it implied a estimate adjustment downward to US$11 per share from prior levels due to operational challenges at certain properties.

Historical Milestones

Early Development (1990s–2000s)

Goldcorp's early development in the 1990s centered on revitalizing the Red Lake gold mine in , , following its acquisition of controlling interest in Dickenson Mines in 1989. Under CEO Rob McEwen, the company renamed the operation the Red Lake Mine in 1991 and pursued aggressive restructuring, merging mining assets and shifting focus from declining production to amid low prices. By 1994, Goldcorp scaled back output at the aging underground mine while intensifying drilling efforts, which identified high-grade ore potential in deeper zones. The late marked a breakthrough with the discovery of the High-Grade Zone at Red Lake, transforming the property into one of the world's richest deposits, with grades exceeding 20 grams per . This success stemmed from persistent despite operational challenges, including high costs and technical difficulties in accessing deep, narrow veins. Goldcorp's emphasized value over volume, rejecting bulk in favor of selective high-grade extraction, which positioned the company for growth as prices began recovering. In 2000, McEwen launched the Goldcorp Challenge, an innovative contest offering a $575,000 prize for the best analysis of the company's proprietary geological data, which was publicly released online—the first such in the industry. Over 110 targets were submitted by participants worldwide, with a hit rate of approximately 50%, leading to multiple new discoveries that extended mine life and boosted reserves by millions of ounces. This approach validated data-driven exploration and elevated Goldcorp's profile, contributing to its evolution from a single-asset junior miner to a mid-tier producer by the mid-2000s.

Expansion and Peak Operations (2010s)

During the early 2010s, Goldcorp expanded its production capacity through the commissioning of large-scale projects and strategic acquisitions. The Peñasquito mine in , —one of the world's largest open-pit mines—achieved commercial production on September 12, 2010, following initial ore processing earlier that year. This operation, featuring sulfide and oxide processing facilities, was projected to yield an average of 500,000 ounces of annually over its 23-year life, alongside significant silver, lead, and byproducts, bolstering Goldcorp's position as a low-cost producer. The ramp-up at Peñasquito directly contributed to the company's record attributable production of 2.52 million ounces in 2010, an increase driven by higher output from this asset and others like Red Lake and in . Complementing organic growth, Goldcorp acquired Andean Resources in September 2010 for approximately C$2.3 billion, securing the high-grade Cerro Negro project in Santa Cruz, . This acquisition enhanced the company's development pipeline, with Cerro Negro achieving first gold pour in July 2013 and quickly becoming a top performer with mill grades exceeding 10 g/t. Concurrently, the Pueblo Viejo joint venture in the —where Goldcorp held a 40% stake alongside operator Barrick Gold—ramped up to first gold production in August 2012 and commercial production in early 2013. The autoclave-based processing plant at Pueblo Viejo supported annual attributable output of around 400,000 ounces for Goldcorp, leveraging refractory ore reserves estimated at over 15 million ounces. These initiatives underscored Goldcorp's focus on tier-one assets in the , with five-year production growth projections rising to over 60% by 2011. By mid-decade, further expansion materialized at the Éléonore underground mine in northern , , where first was poured on October 1, 2014, and commercial production was declared on April 1, 2015. This high-grade project, developed at a cost of about C$2.1 billion, targeted average annual output of 500,000 ounces over its initial mine life, utilizing automated underground drilling and a 7,000-tonne-per-day mill. Peak operations across Goldcorp's portfolio—spanning Peñasquito, Cerro Negro, Pueblo Viejo, Éléonore, and legacy Canadian mines—reflected optimized efficiencies, with the company achieving sustained multi-million-ounce annual production through the late , supported by all-in sustaining costs below $900 per ounce in competitive years. This era positioned Goldcorp among the lowest-cost senior producers globally, though subject to commodity price volatility and operational challenges like water management at Peñasquito.

Acquisition by Newmont (2019)

On January 14, 2019, Mining Corporation announced a definitive agreement to acquire Goldcorp Inc. in a primarily stock-for-stock transaction valued at $10 billion. The deal terms provided for to issue 0.3280 shares of its plus US$0.02 in cash per Goldcorp common share, resulting in shareholders owning approximately 65% of the combined entity and Goldcorp shareholders holding 35%. Both companies' boards unanimously approved the transaction, citing strategic benefits including the creation of the world's largest gold producer by production volume, a diversified portfolio of tier-one assets across stable jurisdictions, and projected annual pre-tax synergies of $365 million from cost savings, supply chain efficiencies, and operational improvements. The acquisition required approvals from shareholders and regulators. Goldcorp shareholders voted in favor on April 4, 2019, with over 97% of votes cast supporting the arrangement. shareholders approved the necessary increase in authorized on April 11, 2019, with more than 76% of outstanding shares in favor. Regulatory clearances included approval from the Government of Korea on February 26, 2019; Mexico's Federal Economic Competition Commission in March 2019; and under 's Investment Canada Act on April 12, 2019, following earlier review by the . The transaction closed on April 18, 2019, establishing as the combined entity, with Newmont's chief executive officer, David J. Arnaud, leading the new company headquartered in . The merger enhanced the company's reserve base to over 100 million attributable gold ounces and positioned it to generate greater long-term value through scale and , including planned divestitures of non-core assets valued at $1–1.5 billion over the following two years.

Sustainability Practices

Environmental Management Strategies

Goldcorp implemented the Sustainability Excellence Management System (SEMS) as its primary framework for environmental management, integrating environmental stewardship with safety, health, and social responsibility across all operations. SEMS provided standardized processes for identifying, assessing, and mitigating environmental risks, with triennial third-party audits and annual self-assessments to ensure compliance and continuous improvement. All sites aligned with international standards including the International Council on Mining and Metals (ICMM) Sustainable Development Principles, Global Reporting Initiative (GRI) Standards, and the Mining Association of Canada's Towards Sustainable Mining protocol for Canadian operations. Water management strategies emphasized efficiency and stewardship under the "H2 Zero" initiative, aiming for net zero fresh water input over a through , advanced treatment, and reduced withdrawals. In 2018, Goldcorp achieved a 65% water rate across operations, exceeding its 50% target, with total withdrawals of 51,648 megalitres and a 3.6% reduction from 2017; site-specific efforts included an 80% cut in use at Red Lake via projects and novel at Éléonore reducing and by 90%. The company collaborated with organizations like the World Wildlife Fund on valuation and issued annual Corporate Water Summaries per ICMM guidelines. Tailings and waste strategies focused on dewatering, recovery, and safe storage, with commitments to store only dewatered tailings in new facilities and adherence to the International Cyanide Management Code. At Peñasquito, the EcoTails prefeasibility study sought to eliminate slurry and cut water use, while the Pyrite Leach Project recovered 35% of and 42% of silver from existing , extending mine life; overall, 2018 generated 43 million tonnes of and 149 million tonnes of rock, with 10% recycled inputs. Reclamation efforts included US$28 million invested in 2018, such as dry covers on 50% of Marlin's and revegetation of over 400 hectares at the closed El Sauzal site. Biodiversity conservation required management plans at every site from exploration through closure, minimizing habitat disturbance and implementing offsets. Goldcorp managed 360,000 hectares in 2018, restoring 60 hectares, with examples including 700 hectares of new forest planted and 300 hectares protected at , alongside monitoring programs documenting 195 species there from 2015 to 2018. Energy and emissions strategies prioritized efficiency and renewables, such as Cerro Negro's generating 21,000 MWh in 2018 (reducing CO2e by 12,000 tonnes, or 18.5% intensity drop) and the all-electric Borden Mine cutting emissions by 700 tonnes annually; the company tracked Scope 1 and 2 GHGs, (6,180 tonnes), and PM10 (8,500 tonnes) per GRI standards. Several operations pursued ISO 14001 compliance, with Red Lake certified under ISO 14001:2004.

Community and Economic Contributions

Goldcorp's operations generated substantial economic value through , local , and contributions across its primary sites in , , , and . In 2018, the company employed 15,204 workers and contractors, with 72% sourced locally or regionally, distributing wages that exceeded local minimums by factors of 1.9 in , 2.7 in , and 2.5 in . Total economic value distributed reached $1.94 billion, including US$193 million in taxes and royalties paid to governments. Local spending totaled US$281.88 million, representing 15% of overall operational expenditures, with higher rates at specific sites such as 54% (US$129.6 million) at Éléonore in and 43% (US$40 million) at Cerro Negro in . Community investments in 2018 amounted to US$10.93 million, encompassing cash donations, in-kind support, sponsorships, and infrastructure projects focused on (US$1.83 million), (US$1 million), and local (US$2.8 million). At Peñasquito in , Goldcorp allocated US$9.48 million in cash investments toward education, health, and economic initiatives, including the opening of a 3,112 m² Rural Medical Unit in Cedros in 2018, serving over 2,300 community members. The mine also contributed 700 million pesos (approximately US$37 million) to a social fund via taxes that year. In , operations like Red Lake supported educational partnerships, such as with Earth Rangers for school programs, while the Borden project spent US$2 million locally in 2015 to bolster regional economies.
SiteKey Economic Contributions (2018)Community Investments and Programs
Peñasquito ()Part of 15,204 total workforce; US$8.1 million local (1% of site spend)US$9.48 million cash; Rural Medical Unit (>2,300 beneficiaries); Graduate Development Program (134 participants since 2013, 50% female in 2018 cohort)
Cerro Negro (Argentina)Increased local to 43% via 2,500 tenders; 20% use10-year Community Development Plan; "Aprender para el trabajo" training (55 participants)
Red Lake/Éléonore ()61.4% local spend at Éléonore; water saving C$15.6 million in energyEducational partnerships; Impacts and Benefits Agreement with First Nations at Borden
()Infrastructure support for post-closure transitionWater systems (1,176 beneficiaries); school improvements (1,153 students); land donations (94 ha total)
These efforts aligned with broader socio-economic goals, including plans updated at all six operations and training for 98% of security personnel, though company-reported metrics emphasize self-assessed impacts on local and procurement chains. In , where approximately 40% of Goldcorp's global production originated, operations contributed significantly to national GDP through direct and indirect effects. Post-closure sites like El Sauzal in received equipment donations and agricultural support to aid economic diversification.

Controversies and Criticisms

Environmental and Health Allegations

Goldcorp faced allegations of environmental and associated risks primarily at its Peñasquito mine in , , and Marlin mine in . At Peñasquito, which began production in 2010, elevated levels in were detected as early as October 2013, exceeding Mexico's fresh water limit of 0.008 mg/l and peaking at over five times that threshold before stabilizing at 0.01 mg/l by September 2015; the company reported the issue to regulators in October 2014 and contained it within mine property boundaries. Goldcorp and Mexican environmental authorities, including Profepa and Conagua, maintained that the contamination posed no risk to or the broader environment, with no detected changes in regional aquifer quality, though internal company documents highlighted potential long-term risks if unaddressed; remediation efforts included relocating a tailings pond by 2017. Local communities, however, alleged broader impacts leading to respiratory and other illnesses, declines, and structural to homes from blasting vibrations, citing unspecified studies linking effects to mine emissions and water quality degradation. These disputes contributed to repeated blockades at Peñasquito, including in following the leak revelation and in 2019 over demands for clean water access and , halting operations and prompting settlements with affected ejidos like Cerro Gordo. Goldcorp, post-acquisition, denied systemic negative community impacts, emphasizing compliance with monitoring and mitigation protocols. At the Marlin mine in , operational from 2009 under subsidiary Montana Exploradora, indigenous Mayan communities reported the disappearance of up to 10 local water springs and ongoing lack of potable water access, attributing these to mining-induced depletion and contamination. complaints included rashes in children from allegedly tainted water sources, alongside broader claims of respiratory issues and lung problems affecting approximately 10,000 residents near the site. A 2010 Inter-American Commission on Human Rights assessment identified unresolved environmental and human rights concerns, leading to temporary suspension requests, though the Guatemalan government declined full halt; Goldcorp engaged in voluntary dialogue and commissioned its own socio-economic studies to address criticisms, while shareholder resolutions in 2008 and 2011 urged operational pauses over risk concerns. A pilot epidemiological study confirmed elevated metal exposures in the area but emphasized the need for further verification of causal links to outcomes. Goldcorp divested the asset in 2017 amid ongoing remediation, with closure oversight transferring to .

Human Rights and Community Disputes

Goldcorp's operations at the Marlin Mine in , managed through its Montana Exploradora from 2004 to 2017, sparked significant disputes with indigenous Mayan communities in Sipacapa and San Miguel Ixtahuacán over alleged infringements. Local groups, supported by organizations like the Center for International (CIEL), claimed violations of the right to (FPIC) under ILO Convention 169, citing inadequate government-involved consultations prior to permitting and operations, as well as misleading information in environmental impact assessments that hindered informed participation. Additional allegations included in land acquisitions, unresolved grievances leading to security-related —such as incidents involving private guards and public forces, including fatalities in 2005—and risks to health from potential water contamination, though baseline data limitations prevented definitive causation links. Protests and blockades ensued, with reports of of activists and community divisions exacerbated by mine-related economic dependencies. A 2010 human rights assessment commissioned by Goldcorp identified non-compliance with ILO 169 on indigenous consultations, gaps in for land and security practices, and potential infringements on rights to property, , and labor—such as house cracking from blasting vibrations and retaliatory dismissals during early union efforts—but noted positive contributions like local employment for over 900 workers and infrastructure investments. The (IACHR) granted precautionary measures in 2010, requesting suspension of certain activities due to risks to life and from alleged and consultation failures, though these were modified in 2011 to remove the suspension demand following a government-initiated multi-stakeholder table. A parallel complaint to Canada's National Contact Point (NCP) in 2009 alleged breaches of OECD Guidelines on rights to water, , and non-discrimination; the NCP facilitated but could not achieve mediated due to distrust, closing the case in 2011 without upholding or dismissing specific claims, while noting Goldcorp's adoption of a corporate policy. In , Goldcorp's San Martín Mine, operated via subsidiary Entremares until closure in 2008 amid protests, faced community accusations of heavy metal pollution in the Siria Valley, leading to health complaints like skin conditions and livestock deaths, framed as violations of rights to health and water. Honduran authorities pursued criminal charges against executives in 2015 for and damages, though Goldcorp denied causation and emphasized compliance with closure agreements involving community consultations. These disputes contributed to broader social mobilization against , including of environmental defenders, but lacked formal international adjudications comparable to the case. At the Los Filos Mine in , community organizations in Carrizalillo disputed Goldcorp's land access agreements from 2006 onward, alleging illegal acquisition of communal lands and leading to operational suspensions, such as an 83-day blockade in 2014 resolved through negotiations. These conflicts centered on property rights and benefit-sharing rather than widespread or indigenous consultation failures.

Company Responses and Outcomes

In response to human rights and environmental allegations at the Marlin Mine in , Goldcorp commissioned an independent Assessment (HRA) by On Common Ground Consultants, published on June 7, 2010, which identified potential risks to community relations and security but found no evidence of systemic abuses by the company. Goldcorp issued an initial response on June 30, 2010, committing to actions such as strengthening grievance mechanisms, enhancing environmental monitoring, and improving dialogue with local Mayan communities affected by alleged water contamination and impacts. By October 18, 2010, the company provided an update confirming progress, including the finalization of a corporate Policy following stakeholder consultations, mandatory human rights training for employees and contractors, and increased investment in programs. Goldcorp also engaged in formal mediation through Canada's National Contact Point (NCP) under OECD guidelines for complaints filed by communities in 2011, addressing claims of inadequate consultation and environmental harm. The company defended its operations as compliant with Guatemalan law and international standards, emphasizing data from ongoing tests showing no exceedances of permitted levels, while offering economic benefits like royalties and jobs. However, the NCP process concluded in without agreement, as complainants demanded mine closure and Goldcorp maintained irreconcilable positions on operational continuity. Outcomes included the mine's continued operation until its planned closure in April 2017 due to reserve depletion, after producing over 1.7 million ounces of and generating billions in for Goldcorp. Post-closure remediation efforts focused on site stabilization, , and , with Goldcorp allocating approximately $50 million for environmental liabilities as estimated in its reports. Despite these measures, local communities and NGOs reported persistent health complaints linked to in water sources, leading to ongoing lawsuits and criticism of remediation adequacy; the had issued precautionary measures in 2011 urging suspension, though Guatemalan authorities permitted operations to proceed. resolutions in 2008 and 2011 seeking suspension were rejected, but the controversies contributed to Goldcorp's removal from the Jantzi Social Index in 2008 for environmental compliance issues. At the Peñasquito Mine in , Goldcorp responded to pre-2019 community disputes over water use and land access by investing in social programs, including projects and for locals, as outlined in annual reports. These efforts aimed to mitigate blockades and protests, but tensions escalated into 2019 disruptions shortly after Newmont's acquisition, with resolutions involving post-merger negotiations and $25 million in funds offered by the combined entity. Overall, Goldcorp's policy implementation, including training rolled out company-wide by 2011, did not fully avert reputational damage or legal challenges, as evidenced by unresolved OECD complaints from coalitions like FREDEMI alleging violations of . The company's acquisition by in April 2019 shifted oversight, with integrated frameworks addressing legacy issues.

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