We are always thinking about the majesty in gold, that yellow metal that we all desire in one presentation or another. But few thoughts go to those organizations that are dedicated to the extraction of gold ore and further process. These colossal companies are responsible for keeping the industry running, one that generates trillions in revenue every year.
Today, we are going to talk about Goldcorp, which is the biggest gold producer in the world. This company focuses on gold mining and related operations like exploration, extraction, procession, and reclamation.
Please, consider that Goldcorp is the largest gold producer in terms of market capitalization, not by production tonnes. If we focus on this factor, Goldcorp would be the fourth biggest, after Barrick Gold, Newmont Mining, and AngloGold Ashanti.
The History Behind the Name
Despite its massive size as a company, Goldcorp is a recently-founded gold mining company, at least in comparison with others in the top 10. It began operating back in 1994 and used low-risk strategy by choosing locations with low political risk, low-cost production techniques, and responsible practices.
By keeping with this low-risk strategy consistently and for many years, Goldcorp achieved outstanding growth with few upside-downs. Less than a decade later, in 2000, this company decided to do something quite original: launch the Goldcorp Challenge.
This challenge allowed people to access the company’s geological data, offering at the same time rewards to those who used the data to locate Red Lake’s next six million ounces of gold. This move alone was responsible for incredible success for the company.
Active Operations Around the World
Goldcorp is focused exclusively on America, having all its operations in the region. Both active operations and development projects can be found in Canada, the US, Mexico, Chile, and other countries in Central America. Here you a short list of those active operations, where they are located, and interesting facts.