UPDATE 1-Canada's Goldcorp to stay focused on gold -CEO

Fri Mar 8, 2013 12:28pm EST
 
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* CEO says no plans to shift strategic focus from gold

* Goldcorp continues to build new mines, grow output

* Spending $5.5 billion over five years

* Shares down 0.09 percent at C$33.65 on TSX

By Julie Gordon

March 8 (Reuters) - Goldcorp Inc, Canada's second-largest gold mining company, has no plans to diversify away from gold into other metals and remains focused on increasing its gold output, Chief Executive Chuck Jeannes said on Friday.

Jeannes, speaking at an investor day in Boston, also said Goldcorp has reviewed its plans in light of costs weighing on the mining industry and remains focused on managing those costs while increasing output.

"We have reviewed our strategy," he said. "And we're confident in fact that the strategy is sound, that we are on the right track and that we don't need to change our strategic focus."

The promise of business as usual, with a $5.5 billion five-year spending plan, caused little reaction in the market. The shares were barely changed at C$33.65 on Friday morning on the Toronto Stock Exchange.   Continued...