(Bloomberg) – Goldcorp Inc., the world’s biggest gold producer by market value, is employing for its company headquarters even after its biggest competitors discharged employees as the steel fell into a bear market.
Now is a good time to be employing, Chief Executive Agent Chuck Jeannes said in an interview yesterday in Denver. Goldcorp needs extra headcount at its Vancouver base because it’s building three mines, he said.
Goldcorp’s largest rivals, Barrick Gold Corp. and Newmont excavation Corp., each discharged about 30% of their corporate agency employees in the second quarter amid industry wide efforts to become more effective and advance profitability. Gold has fallen 20% this year and producers have announced at smallest $26 billion of write-downs since July.
Jeannes said “There are a lot of folks out there who are either looking for occupations or who are disenchanted with their present occupations,”
Goldcorp, which functions mines in North and South America, wrote down the worth of its assets by $1.96 billion in July and is slowing down some project expending.
Its shares increased 1.6% to $26.03 at the close in New York. They have dropped 29% this year.
Jeannes said yesterday, the company is seeking to reduce output charges by $100 an ounce of gold by the starting of 2015. He’s told mine managers to design for affirmative free money flow in each of the next five years, or additional produce a closure design for their operations.