Goldcorp reported in late June Line 2 at its Peñasquito mine in Zacatecas, Mexico, had achieved mechanical completion and was ramping up to design capacity of 50,000 mt/d. Peñasquito’s Line 1, which produced its first concentrates in October 2009, has been operating regularly at designed throughput of 50,000 mt/d. Mining rates have continued in excess of 500,000 mt/d, and concentrate grades and quality remain well within expectations.

Construction of a 30,000-mt/d high pressure grinding roll circuit (HPGR) at Peñasquito remains on track for completion in the fourth quarter of 2010. Full production ramp-up to Peñasquito’s designed capacity of 130,000 mt/d is targeted for early 2011.

After reaching design capacity, Peñasquito is expected to produce annual averages of 500,000 oz of gold, 28 million oz of silver, 450 million lb of zinc, and 200 million lb of lead over a mine life of 22 years. For 2010, Peñasquito is forecast to produce 180,000 oz of gold.