Mexico - prompt Goldcorp will produce gold in Peñasquito

The Canadian mine-layer Goldcorp Inc hopes to begin to produce gold in his Mexican mine Peñasquito in the next two months, before the due thing, he said on Wednesday the daughter company of the company in Mexico.

The vice-president of Goldcorp Mexico, Salvador García, said to Reuters that waits that Peñasquito located in the northerner the Zacatecas state, should produce at least approximately 30,000 golden ounces in 2008.

“We had (foreseen) by the middle of the last quarter of this year (but) it has been more rapid. Fortunately, the providers and the contractors have answered better,” the manager said in a forum of the Chamber of Commerce of Canada in Mexico.

A spokeswoman of Goldcorp in Toronto said that the production even might overcome 70,000 ounces this year.

García said that Goldcorp would increase the production in Peñasquito for less 80,000 ounces in 2009 and to more than 150,000 ounces in 2010 while the mine reaches his entire capacity of approximately 500,000 ounces per year in the next five years, with what it will turn into the biggest gold-mine of Mexico.

Goldcorp will invest 710 million dollars this year in Peñasquito, which possesses reservations for 13 million golden ounces, García said.

Goldcorp has said that 26-year-old dear of the mine hopes to invest 1,500 million dollars during the life.

The company has other projects in Mexico like the mine The Knife-edges in the Warrior's western state, the mining projects The Sauzal and San Dimas, both in the north, which together one estimates that they will produce nearly 620,000 golden ounces this year.

The Goldcorp mines produce close to half of the totality of the gold generated in Mexico, said García.

The company is still exploring an underground mine in The Knife-edges in search of extending his productive life, said the manager.

12-03-2008 Reuters

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