BUZZ-Goldcorp Inc: To take $2.7 bln charge in Q4

Tue Jan 13, 2015 10:34am EST
 
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** Gold producer's U.S.-listed shares down 2.6 pct at $20.85 in early trading

** Toronto-listed shares down 2.8 pct at C$24.95

** Company to take impairment charge of up to $2.7 bln in Q4 on its new Cerro Negro mine in Argentina

** Says Argentina's import restrictions, high inflation and strengthening U.S. dollar to reduce mine's value by $2.3-$2.7 bln after tax

** The world's biggest gold miner by value says 2014 output was 2.871 mln ounces, below its forecast of 2.95-3.10 mln ounces

** Sells small Wharf gold mine in South Dakota to Coeur Mining Inc for $105 mln

** Expects capital spending to decrease by about 40 pct in 2015 as its mine-building program slows down

** Up to Monday's close, company's U.S.-listed stock had fallen more than 7 pct in 12 months