Goldcorp Shareholders Ask Company to Ensure Full Independent Financing and Disclosure of Closure Plans for Marlin Mine

Jamie Kneen Communications and Outreach Coordinator responsible for: strategic research, social media, and public engagement; our Africa program, environmental assessment, and uranium mining.

SHAREHOLDERS RESOLUTION TO GOLDCORP INC.
Submitted on 16 March 2012

WHEREAS, inadequate mine closure and post-closure risk long-term impacts on the water, food, housing and health of surrounding communities,

WHEREAS, the communities surrounding the Marlin mine are particularly vulnerable to inadequate closure and post-closure due to the potential for:

  • pollution from heavy metals that are potentially toxic to humans and wildlife;
  • acid mine drainage which leaves water and soil unusable for drinking and agriculture;
  • permanent environmental damage, jeopardizing subsistence farming as a means of survival;
  • tailings ponds to spill, leak, or break; and
  • climate change effects to exacerbate these risks,

WHEREAS, Goldcorp’s Human Rights Assessment for the Marlin mine recommends that it:

  • provide adequate financial assurance for unanticipated closure;
  • review mine closure time frame and costs; and
  • consult with communities with respect to all aspects of the closure plan,

WHEREAS, Goldcorp estimates closure costs for the Marlin mine to be $17 million USD,

WHEREAS, a recent study undertaken by a panel of experienced engineers, based on available information, estimates closure costs to be $49 million USD,

WHEREAS, Goldcorp has a surety bond for the Marlin mine of only $1 million USD,

WHEREAS, the current surety bond is insignificant relative to independently estimated reclamation costs, exposing affected communities to significant long-term environmental risk,

WHEREAS, the publicly available information regarding Goldcorp’s closure and post-closure plans for the Marlin mine are insufficient because:

  • the Social and Environmental Impact Assessment for the Marlin mine does not provide sufficient detail regarding mine closure plans, costs and timelines;
  • Goldcorp has not disclosed its current closure plans and related management plans;
  • Goldcorp has not disclosed the full extent of the mine expansion, including length, depth, and location of all existing drill holes, access roads and drill pads; and
  • there is no account for how current closure and post-closure costs for the Marlin mine have been estimated, including details of the new water treatment plant that may need to operate indefinitely to mitigate against acid mine drainage,

WHEREAS, Goldcorp’s claims about ongoing reclamation measures have not been independently verified,

WHEREAS, Goldcorp was deleted from the Dow Jones Sustainability Index in September 2011, in the context of ongoing allegations of environmental contamination in the Marlin mine,

WHEREAS, recent court decisions have awarded significant damages against extractive companies for inadequate environmental clean-up,

WHEREAS, inadequate closure and post-closure plans expose Goldcorp to liability through potential litigation for damages to the community and environment.

BE IT RESOLVED THAT BY NOVEMBER 1, 2012:

  1. Goldcorp sets aside an independently guaranteed financial surety commensurate with the estimated $49 million USD cost of closing the mine;
  2. Goldcorp fully and publicly discloses a comprehensive account of its current mine closure and post-closure plans;
  3. Goldcorp discloses future updates to its mine closure plans and provides ongoing disclosure of its reclamation measures in its annual reports;
  4. Goldcorp begins consulting with the community regarding closure and post-closure plans.

Filed by: 

Mary Swain, Treasurer, Loretto Literary and Benevolent Institution, Kentucky, USA

Kathryn Anderson, Nova Scotia, Canada

Constance Kane, VP & COO, Unitarian Universalist Service Committee, Massachusetts, USA