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Reducing Costs

We’re on track with our program to reduce all-in sustaining costs by 20% by 2021.

play video We're delivering 20% reduction in cost, while reinvesting in critical components of our growth plan. Learn more.
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20%
2017 $850 per ounce (+/- 5%)
$250 million in annual
sustainable efficiencies
2021 $700 per ounce (+/- 5%)

$250m sustainable annual efficiency program on track

$200 million expected to be achieved
2017
$250 million on track
2018
Potential to increase target beyond $250 million
2019+

Towards Zero Water

Towards Zero Water (H2Zero)

Goldcorp’s multi-year H2Zero water-reduction strategy will lower our reliance on water, bring our costs down and reduce our impact on the environment.

Water is a precious resource – one of the most important in the world – and there’s growing scrutiny of its use in all industrial applications.

Water is also an expensive part of mining. It takes infrastructure, energy and labour to extract it, to pump or transport it around a site and to store, treat and discharge it. That infrastructure needs ongoing maintenance and upgrades, and has to be replaced at one or more points during the life of a mine.

Goldcorp’s H2Zero strategy aims to substantially reduce fresh-water consumption and completely eliminate the use of traditional slurry tailings, currently the largest store of unavailable water in the mining process. Our goals include:

  • reducing our total water consumption – all new Goldcorp-operated projects will eliminate the use of conventional, wet tailings and consume 50% less water than Goldcorp’s existing sites do today
  • moving at least half of all existing operations to water reuse/recycle rates of more than 80%
  • using substantially less fresh water in our milling operations (less than 0.25 m3/t ore milled)

Initial projects include the water-saving EcoTails concept, set to be first tested at the Peñasquito Mine in Mazapil, Mexico, and several water-related studies and projects at other mines.

We also want to make sure our innovations in water-use reduction can be replicated by other mining companies to create a worldwide impact, which is why we’re sharing information and best practices with other industry leaders through our involvement in the Canadian Mining Innovation Council and the Canadian Mining Association.