Goldcorp’s Éléonore declares commercial production

The world’s largest gold miner by market capitalisation Goldcorp on Wednesday announced that it had declared commercial production at its Éléonore mine, in the James Bay region of Quebec. The mine poured its first gold on October 1 last year and was expected to produce between 290 000 oz and 330 000 oz of gold this year, with output weighted towards the second half of the year. For accounting purposes, the company would start recognising revenues from the sale of gold and mine operating costs in its consolidated statement of earnings effective from Wednesday.