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Goldcorp may soon join other major gold miners in raising its dividend.
Chief Executive Officer Chuck Jeannes tells BNN a decision on the payout may be made soon because the miner has excess cash flow.
“We believe that we’re in a position – a fairly unique position – to both fund our growth going forward and pay an increased dividend.”
Surging bullion prices helped Goldcorp lift its third quarter operating profit, and weaker production at its larger mines was offset by strong activity at its other operations.
Jeannes says the Penasquito mine in Mexico is “on track” with higher throughput levels, and at its Marlin mine in Guatemala, Goldcorp has reached a very high-grade zone at the bottom of the open pit. “We’re looking for a very strong fourth quarter and everything is lining up very well for that,” he says.