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Musselwhite is principally an underground gold mine and associated processing plant producing nearly a quarter of a million ounces of gold annually. The mine is situated in northwestern Ontario, Canada and as of December 21, 2007 is 100% owned by Goldcorp Inc. Previous to this Goldcorp was 68% owner and operator and Kinross Gold Corporation held a 32% interest in the mine. Musselwhite has established an innovative agreement with the First Nation people which provides for a range of education, training, employment and business related services for local communities.
With existing mineral reserves, the Musselwhite Mine has an expected mine life through to 2016. Gold production for 2008 totaled 210,000 ounces. |
OPERATING STATISTICS
|
Musselwhite |
2004 (actual)* |
2005 (actual)* |
2006 (actual)* |
2007 (actual) ** |
2008 (actual) |
|
Ore milled Tonnes(000’s) |
992 |
1005 |
884,900 |
911,100 |
1,237.8 |
|
Milled grade Au g/t |
5.35 |
5.44 |
5.51 |
5.41 |
5.56 |
|
Total Recovery Au % |
95.76 |
95.01 |
95 |
96 |
95 |
|
Oz. Produced Au Oz |
163,231 |
170,260 |
148,800 |
155,700 |
210,500 |
|
Total Cash Cost US$/oz |
$269 |
$324 |
$425 |
$491 |
$611 |
* Operating statistics for 2004, 2005, 2006 represent 68% ownership of Musselwhite mine.
** On December 21, 2007, Goldcorp acquired Kinross Gold Corporation’s 32% interest in the Musselwhite gold mine, and, as a result, the table above reflects Goldcorp’s 100% ownership from December 21, 2007.
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