Goldcorp's (GG) CEO Says Organic Growth New Priority

After a number of acquisitions over the last year, Goldcorp (NYSE:GG) CEO Chuck Jeannes says the company will for the most part focus on organic growth.

"M&A is not a high priority for us - focusing on delivering these new projects is our priority now," Goldcorp Chief Executive Chuck Jeannes said at the Reuters Global Mining & Steel Summit in Toronto.

There is of course the increasing cost of acquiring mining companies as the price of gold continues to push upwards.

Goldcorp has pursued aggressive M&A-driven growth recently. It was involved in about half-dozen deals last year alone.

The company, which has more than doubled its gold output since 2005, expects to produce between 2.65 million and 2.75 million ounces this year. It sees production climbing to 4 million ounces by 2015.

Goldcorp closed Wednesday at $49.78, gaining $1.60, or 3.32 percent.