Goldcorp Announces
Power Delivery Agreement With InterGen
VANCOUVER, BRITISH
COLUMBIA, JANUARY 25, 2011 � GOLDCORP INC. (TSX: G, NYSE: GG) today announced the signing of a
Power Delivery Agreement with a subsidiary of InterGen,
the global power generation company with power plants located in Mexico, the
UK, the Netherlands, the Philippines and Australia. The agreement will
see InterGen construct and operate a 200-250MW
gas-fired combined cycle power plant to deliver electricity to the Pe�asquito mine in Zacatecas, Mexico for a minimum term of
20 years. This Agreement helps secure a long-term supply of electricity
to Pe�asquito at stable pricing with anticipated
substantial cost savings compared to current arrangements.
Later this year, and during
construction of the new plant, Pe�asquito will also
benefit from an interim reduction in existing electricity rates. The project is
subject to regulatory and environment approvals and is expected to begin
construction later this year with completion by 2014.
Goldcorp is one of the
world�s fastest growing senior gold producers. Its low-cost gold
production is located in safe jurisdictions in the Americas and remains 100% unhedged.
Cautionary Note
Regarding Forward-Looking Statements
This press release contains
�forward-looking statements�, within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and applicable Canadian securities
legislation, concerning the business, operations and financial performance and
condition of Goldcorp Inc. Forward-looking statements include, but are not
limited to, statements with respect to the future price of gold, silver,
copper, lead and zinc, the estimation of mineral reserves and resources, the
realization of mineral reserve estimates, the timing and amount of estimated
future production, costs of production, capital expenditures, costs and timing
of the development of new deposits, success of exploration activities,
permitting time lines, hedging practices, currency exchange rate fluctuations,
requirements for additional capital, government regulation of mining
operations, environmental risks, unanticipated reclamation expenses, timing and
possible outcome of pending litigation, title disputes or claims and
limitations on insurance coverage. Generally, these forward-looking
statements can be identified by the use of forward-looking terminology such as
�plans�, �expects� �is expected�, �budget�, �scheduled�,
�estimates�, �forecasts�, �intends�, �anticipates�, �believes� or the negative
connotation thereof or variations of such words and phrases or statements that
certain actions, events or results �may�, �could�, �would�, �might� or �will be
taken�, �occur� or �be achieved� or the negative connotation thereof. All
forward-looking statements are developed based on assumptions about such risks,
uncertainties and other factors set at herein. Forward-looking
statements are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity, performance or
achievements of Goldcorp to be materially different from those expressed or
implied by such forward-looking statements, including but not limited to: risks
related to the integration of acquisitions; risks related to international
operations; risks related to joint venture operations; actual results of
current exploration activities; actual results of current reclamation
activities; conclusions of economic evaluations; changes in project parameters
as plans continue to be refined; future prices of gold, silver, copper, lead
and zinc; possible variations in ore reserves, grade or recovery rates; failure
of plant, equipment or processes to operate as anticipated; accidents, labour disputes; delays in obtaining governmental approvals
or financing or in the completion of development or construction activities and
other risks of the mining industry, as well as those factors discussed in the
section entitled �Description of the Business � Risk Factors� in Goldcorp�s
annual information form for the year ended December 31, 2009 available at
www.sedar.com. Although Goldcorp has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The forward-looking statements
contained in this press release are made as of the date of this press release
and, accordingly, are subject to change after such date. Except as
otherwise indicated by Goldcorp, these statements do not reflect the potential
impact of any non-recurring or other special items or of any dispositions, monetizations, mergers, acquisitions, other business
combinations or other transactions that may be announced or that may occur
after the date hereof. Forward-looking statements are provided for the
purpose of providing information about management�s current expectations and
plans and allowing investors and others to get a better understanding of
Goldcorp's operating environment. Goldcorp does not
undertake to update any forward-looking statements that are included in this
document, except in accordance with applicable securities laws.
For further
information, please contact:
Jeff Wilhoit
Vice President, Investor Relations
Goldcorp Inc.
Telephone: (604) 696-3074
Fax: (604) 696-3001
E-mail: info@goldcorp.com
website: www.goldcorp.com