| Goldcorp Inc., the Canadian producer starting up three new mines to boost output 50 percent, says there’s such a thing as too much gold. The largest producer by market value, which expects annual output to reach as much as 4 million ounces by 2016, would prefer to fine-tune its mining assets to increase profitability than just keep growing to a point where it’s difficult to replace reserves, Chief Executive Officer Chuck Jeannes said.
“That means constantly trying to add high-quality things and, as we do that, dispose of the non-core things,” Jeannes said in an interview this week at the annual Denver Gold Forum. “We don’t want to be 7 or 8 million ounces.”...........................................Full Article: Source
|