Goldcorp Board Greenlights $4B Chilean Gold Mine Project

Law360, New York (January 9, 2012, 4:11 PM EST) -- Goldcorp Inc.'s board approved the $3.9 billion construction of the El Morro copper-gold mine in Chile that is 30 percent owned by New Gold Inc., the Canadian gold producer said Monday.

The mine is expected to start producing in 2017 and have a 17-year life span, Vancouver, Canada-based Goldcorp said in a statement. The company expects the mine to produce an average of 210,000 ounces of gold and 200 million pounds of copper per year.

The decision puts into play a mining site that Goldcorp has been exploring for a number of years,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.