Goldcorp CEO: Talks With Peers on Greenfield Projects

Goldcorp CEO David Garofalo discusses plans to increase production by 20% over five years, focusing on Brownfield expansions and efficiency improvements. The company aims to cut $250 million in annual expenses by 2018 through workforce reductions and operational efficiencies. Garofalo highlights potential partnerships with other large miners for Greenfield projects, emphasizing the need for collaboration to tackle industry challenges. The discussion also touches on potential opportunities in the Americas and the importance of early project development.

What is one of the main strategies Goldcorp is using to cut $250 million in annual expenses by 2018?

• Raising product prices

• Reducing headcount and improving efficiency

• Increasing the number of contractors

• Expanding into new markets

How does Goldcorp plan to achieve a 20% increase in production over five years?

• By outsourcing production

• By increasing workforce

• Through Brownfield expansions

• By acquiring new mines

What type of projects is Goldcorp looking to collaborate on with other large miners?

• Renewable energy projects

• Urban development projects

• Greenfield projects

• Brownfield projects

What is a key reason for Goldcorp's interest in partnering with other companies for Greenfield projects?

• To increase market share

• To share the financial and technical challenges

• To diversify product offerings

• To reduce labor costs

What is Goldcorp's preference when it comes to developing new mines?

• Partnering with international companies

• Developing mines independently

• Focusing on urban areas

• Outsourcing development to third parties

What is Goldcorp's approach to selecting potential partners for collaboration?

• Selecting like-sized companies in familiar jurisdictions

• Collaborating with government agencies

• Choosing companies from different industries

• Partnering with startups

What is Goldcorp's strategy for enhancing the value of its business?

• Reducing production costs at all costs

• Investing in projects with high net asset value

• Focusing on short-term gains

• Expanding into unrelated industries