Goldcorp Inc.'s Red Lake mine is now the largest single-mine gold producer in Canada.
The Ontario gold mine has exceeded all production forecasts for the first five months of 2001. As of June 8, the mine had produced 240,000 ounces, at a cash cost of $57 per ounce.
The mine was expected to produce 240,000 ounces of gold for all of 2001.
Goldcorp has now increased the mine's production forecasts for the second part of the year from 400,000 ounces, at a cost of $75 per ounce, to 440,000 ounces, at a cost of less than $70 per ounce.
Goldcorp started commercial production at the Red Lake Mine on Jan. 1. Up to the end of May, 98,154 tons or ore had been processed at an average grade of 2.57 ounces of gold per ton.
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