Goldcorp reports $2.4 bln quarterly loss on mine write-down

Thu Feb 19, 2015 8:12am EST
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TORONTO Feb 19 (Reuters) - Goldcorp Inc, the world's biggest gold producer by market value, reported a big fourth-quarter loss on Thursday, as it took a $2.3 billion impairment charge on its new Cerro Negro mine in Argentina.

The Vancouver, British Columbia-based miner reported a net loss of $2.4 billion, or $2.94 share, in the quarter ended Dec. 31, more than double the net loss of $1.1 billion, or $1.34 a share, a year earlier.

Adjusted profit fell to $55 million, or 7 cents a share, from $74 million, or 9 cents a share, a year earlier.

Gold production increased to 890,900 ounces in the quarter from 768,900 in the same period a year earlier. (Reporting by Susan Taylor; Editing by Bernadette Baum)