trending Market Intelligence /marketintelligence/en/news-insights/trending/7p7brdghbtnmxe5m1n0yqw2 content esgSubNav
In This List

Ongoing protest may prompt Goldcorp to suspend production at Penasquito mine

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Ongoing protest may prompt Goldcorp to suspend production at Penasquito mine

An ongoing protest blocking entry to Goldcorp Inc.'s Penasquito mine in Mexico could force the company to halt production, Reuters reported June 11.

The demonstration, which began June 1, is led by local truck-drivers who say the company walked back on promises to hire locally. One of the protest leaders said the aim was to get the company to fulfill its promises.

Goldcorp's director of corporate affairs, Michael Harvey, said the blockade was illegal and had disrupted the flow of workers and supplies.

"We are still working, but if we can't let supplies in, at some point we will stop producing," Harvey said.

Penasquito produced 476,000 ounces of gold in 2017, accounting for 18% of Goldcorp's total output and generating over 33% of its revenue, the report noted.