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Goldcorp eyes cost cuts on delayed El Morro project in Chile

Oct. 09, 2014 10:35 AM ETNewmont Corporation (NEM) Stock, NGT:CA StockNEMBy: Carl Surran, SA News Editor7 Comments
  • Goldcorp (GG -2.4%) is looking to cut costs on its planned and already-delayed $3.9B El Morro copper and gold project in Chile, and that may mean new permits are needed and further hold-ups, CEO Chuck Jeannes says.
  • The project has been caught up in a legal fight, and this week Chile's Supreme Court ruled El Morro's environmental permit should be suspended until the company holds new talks with local indigenous groups.
  • While progress on the project has been bogged down, the CEO says GG has been reviewing engineering plans to find a better way to build the mine and is continuing those studies.

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