Goldcorp plunges into mine development: Gold miner expects Borden Lake mine to be operating by mid-2019.

• Position: NEWS

Goldcorp reports it's made major strides in reaching various milestones with its mine construction projects in Chapleau and Timmins.

The Vancouver gold miner issued a Sept. 4 news release outlining its progress ahead of a Sept.6 conference call.

"We continue to be impressed with our team's execution as we advance projects on time and on budget through the permitting and development process," said David Garofalo, Goldcorp president-CEO.

The company maintains it has a strong pipeline of mine projects coming on stream to build up its gold reserves and boost production over the next decade while cutting costs at its existing operations.

At its Borden Lake mine project near Chapleau, the company reports the mine infrastructure is in place to support production.

Commercial production is on track for mid-2019. All the operating permits should in place by the end of this year.

Ramp development has reached 1.6 kilometres in length and down to a depth of 300 metres. Every thing remains on schedule, the company said.

--Bulk sampling began in August --two months ahead of schedule --and continues into this month.

Besides wanting to get a better handle on the structure and geology of the ore body, Goldcorp expects to recover 4,000 ounces of gold from the sample.

As is widely known in the industry, Borden stands to be a techno logical marvel as an all-electric underground mine serviced by a fleet of battery-powered jumbos, bolters, and underground loaders.

Goldcorp is counting on receiving $5 million promised by the previous provincial government, through a greenhouse gas program, which was earmarked for its vehicle fleet.

Going electric should cut operating costs by more than $9 million a year with the elimination of two million litres of diesel fuel, reduced mine ventilation needs, a decrease of 32,000 megawatts of electricity, and a similar decrease in propane to heat the ventilation.

The overall reduction in...