Goldcorp President and CEO Kevin McArthur Tuesday said he is certain that investors will again see four-digit gold prices this year with the potential to go well into the four digits.
However, during Goldcorp's AGM Tuesday, the question-and-answer session was dominated by environmental and human rights NGOs, anxious to declare their strong beliefs that Goldcorp should stop doing business in Honduras and Guatemala.
Before the Goldcorp AGM had even commenced, two UK-based charities urged pensioners in the United Kingdom to put pressure on their pension fund managers to in turn influence more than 130 mining companies listed on the LSE. Among their targets was Goldcorp's San Martin mine in Honduras.
CAFOD, the Catholic Fund for Overseas Development, called on mining companies to respect people's right to have a say about whether, and how, a mine can operate on their land; and eliminate the harmful social and environmental impacts of their operations.
The religious group is working with FairPensions, a charity which promotes responsible investment by pension funds and fund managers. A spokesman for FairPensions urged pension fund members to call their pension funds to get them to call mining companies to account where concerns exist.
During the question-and-question session, the debate centered mainly on the same water quality and water quantity allegations that have become a staple of the anti-mining NGO group arsenal in their battle to stop gold mining in foreign nations. Spokesmen for the Rights Action group in Guatemala City and the Siria Valley Environmental Defense Committee both asserted that Goldcorp mining operations were causing health and environmental problems.
However, Goldcorp officials repeatedly responded that independent water monitoring committees and government analysis had proven that the water environmental degradation allegations were not true.
Nevertheless, water quantity and consumption of water in mining processes appeared to be of mutual concern to both Honduran NGO representatives and Goldcorp officials.
The NGO representatives in attendance at the AGM also expressed their opposition to a formal human rights impact assessment Goldcorp is hoping to conduct in the area through an independent third party.
Prior to the Q&A session, Goldcorp unveiled a video featuring a number of community leaders, mining employees, and other proponents extolling the capacity-building, health care, educational, and economic benefits of Goldcorp's presence in their communities.