Goldcorp confident in future of Quebec mine despite hiccups

Tue Sep 22, 2015 1:56pm EDT
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DENVER, Sept 22 (Reuters) - Goldcorp Inc remains confident in the future of its Eleonore gold mine in Quebec, its chief executive said on Tuesday, two weeks after the miner cut its 2015 output forecast for its newest mine due to unexpected folds and faults in the underground ore body.

CEO Chuck Jeannes said Goldcorp expects only 10 percent of the ore body to be affected and that the conditions will exist for the rest of the year.

"Looking forward, I am not worried about Eleonore. It is a great ore body, a great plant," he said in a presentation at the Denver Gold Forum, an industry conference.

On Sept. 8, Vancouver-based Goldcorp, the world's biggest gold miner by market value, cut its Eleonore forecast to between 250,000 and 270,000 ounces of gold this year.

That is down on a previous forecast of "at or below" 290,000 and 330,000 ounces.

Goldcorp said at the time that the production cut at Eleonore, its newest mine, would not affect full-company production. It is still forecasting 2015 output at the higher end of a 3.3 million to 3.6 million ounce range. (Reporting by Nicole Mordant; Editing by Diane Craft)