Goldcorp to buy Canplats

Camino Rojo is located about 50 kilometers southeast of Goldcorp's Penasquito mine, which is expected to reach commercial production next year. Analysts had speculated that Canplats was likely to be an acquisition target for Goldcorp, or another big gold miner, given the promising results from Camino Rojo. "The acquisition of the Camino Rojo project fits very well with one of our strategic goals of enhancing opportunities in and around our core assets," said Goldcorp Chief Executive Chuck Jeannes in a statement. "Along with the steady advancement of our Noche Buena project located north of Penasquito, we can envision a potential network of low-cost satellite operations that would contribute significantly to Penasquito production over the long term," he added. Read more...

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