January 11, 2010 / 3:59 PM / 9 years ago

UPDATE 1-Goldcorp sees production increasing in 2010

* Sees gold production up more than 8 pct in 2010

* Says ends 2009 with $865 mln in cash (In U.S. dollars unless noted)

TORONTO, Jan 11 (Reuters) - Goldcorp Inc (G.TO) said on Monday it expects its gold production to increase by more than 8 percent in 2010, as it continues to ramp-up production at its Penasquito mine in Mexico.

Vancouver, British Columbia-based Goldcorp said it produced over 2.4 million ounces of gold in 2009 and it expects to produce about 2.6 million ounces of gold.

Goldcorp, which is actively attempting to expand its portfolio through acquisitions, said it ended the year with $865 million in cash.

The company is poised to acquire mining exploration company Canplats Resources Corp CPQ.V for C$280 million ($272 million). It also plans to spend $513 million to buy Swiss mining giant Xstrata’s XTA.L 70 percent interest in the El Morro copper-gold project in Chile. [ID:nN07183045] [ID:nN08143338]

Shares of Goldcorp were up 36 Canadian cents at C$44.16 on the Toronto Stock Exchange on Monday morning.

$1=$1.03 Canadian Reporting by Euan Rocha; editing by Rob Wilson

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