Goldcorp announced on May 5 that its Los Filos mine in Guerrero state, Mexico, had resumed all operations following a negotiated settlement with the Carrizalillo Ejido for a new land occupancy agreement with a five-year term. The Carrizalillo Ejido is the local landowners’ association. Operations at Los Filos had been suspended on April 2, following unsuccessful efforts to reach a negotiated settlement to renew the occupancy agreement that expired on March 31 (E&MJ, May 2014, p. 14).
Due to the suspension, Goldcorp expects 2014 gold production at Los Filos to be at the low end of its guidance range of between 330,000 and 345,000 oz. In 2013, Los Filos produced 332,400 oz of gold at all-in sustaining costs of $1,002/oz.
Los Filos is a combined open-pit/underground operation. The mine directly employs more than 2,600 people from the surrounding communities, with an estimated 10,000 additional jobs created as a result of its presence in the region.
Goldcorp also reconfirmed its overall company production guidance of between 2.95 million and 3.10 million oz of gold for 2014.
