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Monday, March 8, 2010

Goldcorp (NYSE:GG) Growth Strategy

Goldcorp Growth Strategy

According to Goldcorp (NYSE:GG) CEO Charles Jeannes, the company could grow the company quicker than he is planning at this time, but lessons from major rivals like Barrick Gold (TSE:ABX) and Newmont Mining (NYSE:NEM) give him a check on that, and he's look at a more modest doubling of gold production from now through about 2018.

From there, Jeannes said it'll be hard to see how there could be significant growth once they reach that level of production. He uses the metric of about 5 million ounces a year as the place where gold production growth gets difficult.

Jeannes is looking to reach 5 million ounces of gold production by around 2018.

Goldcorp Growth Strategy

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