Commercial Production Expected at Chapleau Mine Before Year's End

Commercial production is expected at a Chapleau mine before the end of the year.

In a recent release from Goldcorp on its fourth quarter 2018 milestones and 2019 production and cost guidance, the Vancouver-based mining company says it has obtained all permits for its Borden gold project, "advancing towards commercial production in the second half of 2019".

Set to be the world's first all-electric underground mine, Borden is expected to create 200 jobs in the Chapleau area - it received a $5-million boost from Natural Resources Canada's Clean Growth Program in October, to assist with the purchase of electric vehicles and equipment.

Goldcorp notes its other properties produced 630,000 ounces of gold in the fourth quarter of 2018 - exceeding guidance - for a total of 2,294,000 ounces over 2018 - 2019's guidance is 2.2 to 2.4 million ounces.

The update gives only a brief mention to plans for a merger with US-based Newmont Mining, announced earlier this month - Goldcorp says updated guidance for the combined company is expected after the merger closes, which it expects to happen in the second quarter of the year.

While directors with both companies have given unanimous support, shareholders must still approve the deal, as will regulators in multiple countries.