Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Goldcorp reported a net loss of $131 million or 15 cents per share in its second quarter.
Goldcorp attributed the loss to non-cash foreign exchange losses primarily arising on deferred tax balances.
The company reconfirmed 2018 guidance for gold production of 2.5 million ounces, plus or minus 5 per cent, and a all-in-sustaining-cost of $800 per ounce, plus or minus 5 per cent.
Gold production was at 571,000 ounces with all-in sustaining costs of $850 per ounce. The same quarter a year ago Goldcorp produced 635,000 ounces at AISC of $800 per ounce.
Written with material from Golcorp news release.
