Goldcorp updates on Marlin power supply interruptions

Goldcorp Inc., a Canada based gold mining company with the strongest production growth profile, says that the Marlin mine in Guatemala has been hit by power interruptions, resulting in periodic idling of the mill facility.

However, the company said that power interruptions has not affected the mining activities at the underground and open pit and ore continues to be stockpiled on site.

Since 2004, Goldcorp has a right-of-way agreement with the landowner for power operation, that provides monetary compensation in exchange for access for the passage and proper maintenance of the power line.

Marlin mine is expected to produce approximately 250,000 ounces of gold per year and approximately 4 million ounces of silver per year over its mine life.

Goldcorp is the largest single employer in the region, employing over 800 Guatemalans and paying among the highest wages in the country.

On average, the mine generates weekly tax receipts to the Guatemalan government of approximately US$355,000.