Jane Doe

Goldcorp Q4 2006 Earnings Call Transcript

It's amazing that considering the conflicts around the Marlin mine in Guatemala, Goldcorp stated only that:

"You may have seen that the project was recently subjected to a work stoppage as a result of a local road block. We are having some issues with the small group who wish to see more money in the way of land payments and infrastructure investments in the area. We are engaged in discussions and don't expect this situation to persist."

This group that was stopping the work are not an isolated faction, they are part of a majority group of people opposed to this mine -and future mines- in the region.

The Vice Minister of Energy and Mines in Guatemala stated two weeks ago that their Ministry would honor the decision of the Constitutional Court of Guatemala as to whether the referendum processes happening thoughout Guatemala's highlands are legally binding or not. The referendums are community driven processes where citizens have unanimously rejected mining exploration in their lands. If they do become legally binding, it will be difficult for Goldcorp to carry on with its 12 concessions in Guatemala, as well as with the expansion of the Marlin mine.

Goldcorp maintains that the referendums are unconstitutional.

They are in a far more difficult situation in Guatemala than what they are disclosing, not to mention the current situation at Los Filos, where road blockades were also erected in January and February of this year by locals.