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Goldcorp Inc (2)
Symbol G
Shares Issued 812,925,530
Close 2014-04-02 C$ 27.61
Market Cap C$ 22,444,873,883
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FP/wire say Goldcorp halts work at Los Filos mine

2014-04-03 09:32 ET - In the News

The Financial Post reports in its Thursday, April 3, edition that Goldcorp said on Wednesday it suspended operations at its Los Filos mine in Mexico because of a dispute with an organization of local landowners known as an ejido. A Reuters dispatch to the Post reports that Goldcorp said it has not been able to negotiate the renewal of an occupancy agreement that expired March 31, but discussions with representatives of the Carrizalillo Ejido group are continuing. The dispute arose as Goldcorp came to renegotiate its five-year surface rights agreement with the Ejido, an unnamed source told Reuters, a typically fraught process that in the past has led to blockades by the Ejido. Contracts with the Ejido were originally renewed on an annual basis, the source said, and efforts to create longer-term contracts led to a three-month blockade in 2007. During the previous negotiation in 2009, when the Ejido also blocked the mine, operations ceased for two weeks, the source said, adding he did not expect the current dispute to turn violent. The mine was shut on Tuesday night, the source said. RBC Capital Markets analyst Stephen Walker says the news is a "slight negative" for Goldcorp's shares.

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