Goldcorp Inc. announced that it has suspended mining at its El Sauzal gold mine in Chihuahua, northern Mexico, after it experienced movement in the highwall slope of the Trini pit. A geotechnical survey team will assess the potential impact of the movement on the mine’s operation.
The mine is currently in the final year of its active mine life, and is expected to produce about 100,000 to 105,000 ounces of gold in 2014. Roughly 37,000 ounces of gold have been produced from the mine as of Aug 28.
Goldcorp released its second-quarter 2014 results in Jul 2014. The company’s adjusted earnings (excluding one-time items) increased 40% to $164 million or 20 cents per share from $117 million or 14 cents a share earned in the year-ago quarter. Earnings per share topped the Zacks Consensus Estimate of 14 cents.