Goldcorp's Dome mine to close after 106 years in production

TIMMONS, Ont. -- Underground work at Goldcorp's Dome mine will come to a permanent halt around mid-year, more than a century after it originally began producing ore from one of Ontario's most prolific gold regions.

See Full Article

The closure will directly affect 115 employees and 76 contractors, the company confirmed Friday, a day after the mine's management told the local community.

The Dome mine -- which had previously suspended operations for about two years ending in early 2006 -- is part of Goldcorp's Porcupine complex in Timmins, Ont.

Goldcorp (TSX:G) says other operations, including Porcupine's Hollinger open pit mine and Hoyle Pond underground mine and a processing plant, will continue for the foreseeable future.

Brendan Zuidema, general manager of the Porcupine operation, said the company will work with the United Steelworkers union to close the site safely and in accordance with the labour contract.

"The Dome underground has been an important contributor to Porcupine's overall production and a significant part of the history of this gold mining district," Zuidema said in Friday's announcement.

The Vancouver-based company (TSX:G) is one of the world's biggest gold producers.



Advertisements

Latest Economic News

  • Real estate reality check: CBC's Marketplace consumer cheat sheet

    Economic CBC News
    Miss something this week? Here's the consumer news you need to know from CBC's Marketplace. Get this in your inbox every Friday. Sign up here. House cooling Time for some cold water on that hot southern Ontario real estate market? Here's how the province is proposing to rein in the madness. Source
  • Birthing April the Giraffe becomes cash cow for tiny U.S. zoo

    Economic CTV News
    April the giraffe has become a cash cow for a tiny zoo in rural upstate New York, thanks to a livestream of her pregnancy and birth that has enthralled viewers around the world. Owners of the Animal Adventure Park won't say exactly how much they've pulled in from all the April-related ventures, but marketing experts who specialize in viral internet campaigns conservatively estimate the haul in the hundreds of thousands of dollars. Source
  • Despite special regulations, edible entrepreneurs hope to take bite of Canada's marijuana market

    Economic CBC News
    Amid all the uncertainty about the federal government's ?plans to legalize marijuana by mid-2018, a culinary mystery stands out: How will marijuana-infused food products, commonly called "edibles," fit into the legal regime? Ottawa has signalled that regulations governing the sales of edibles won't be ready by the time recreational marijuana becomes legal. Source
  • 'Vital for tenants' or 'textbook' bad policy: How rent control works in NYC

    Economic CBC News
    Before Ontario's provincial government announced its plans to expand rent control, some economists were already sounding alarm bells about imposing the controversial policy. In response to some Toronto tenants who say their rents have doubled, the government on Thursday unveiled its Fair Housing Plan. Source
  • What we can learn from New York's rent control regime

    Economic CBC News
    Before Ontario's provincial government announced its plans to expand rent control, some economists were already sounding alarm bells about imposing the controversial policy. In response to some Toronto tenants who say their rents have doubled, the government on Thursday unveiled its Fair Housing Plan. Source
  • Despite special regulations, entrepreneurs hope to take bite of Canada's marijuana edibles market

    Economic CBC News
    Amid all the uncertainty about the federal government's ?plans to legalize marijuana by mid-2018, a culinary mystery stands out: How will marijuana-infused food products, commonly called "edibles," fit into the legal regime? Ottawa has signalled that regulations governing the sales of edibles won't be ready by the time recreational marijuana becomes legal. Source
  • Canada's central banker on Ontario housing move: 'I'm happy'

    Economic CTV News
    WASHINGTON -- Measures to cool the housing market in the Greater Toronto Area have received a warm response from Canada's central banker, who said Saturday it should have some effect on runaway housing prices. "I'm happy there are measures," Stephen Poloz, the governor of the Bank of Canada, told reporters during financial meetings in Washington. Source
  • Opening shot coming this week in fifth softwood lumber war between Canada-U.S.

    Economic CTV News
    WASHINGTON -- The opening shot in a fifth softwood-lumber war between the United States and Canada is expected this week, and policy-makers north of the border are preparing to calculate the potential damage of American duties. Source
  • Global finance leaders grapple with globalization fears

    Economic CTV News
    From left, German Federal Minister of Finance Wolfgang Schauble, Zhou Xiaochuan, Governor of the People's Bank of China, Chinese Finance Minister Xiao Jie and International Monetary Fund Managing Director Christine Lagarde gather for the Family Photo during the G20 at the 2017 World Bank Group Spring Meetings in Washington, Friday, April 21, 2017. Source
  • LinkedIn for farmers aims to remedy labour shortage

    Economic CTV News
    If you know how to tag and process cattle or drive a “semi to haul silage,” or need to hire someone who does, this new website could be for you. WorkHorsehub.ca is a farmer-designed online hub aimed at connecting agriculture workers with jobs in the industry. Source