Company report
Summary Results
Goldcorp is one of the five strongest performing companies for Business Conduct issues, due to its formal commitments to business ethics, anti-bribery and corruption, and the transparency of mineral revenues. Likewise, Goldcorp fully discloses all the payments it makes to sub-national and national governments, including site-level data on these payments. Goldcorp has also assigned clear responsibilities for responsible business to individual Board directors and senior managers and has included sustainability-related key performance indicators into the compensation programme for its executives. Goldcorp is also one of the strongest performing companies on tracking progress on diversity and inclusivity among Board members; the company reports on its progress against clear targets and shows evidence of improvement.
Goldcorp is one of the ten strongest performers for Lifecycle Management, Community Wellbeing and Environmental Responsibility. Overall, however, Goldcorp’s results are limited by little evidence of systematic action on a number of issues. For example, in Community Wellbeing Goldcorp shows limited evidence of conducting systematic due diligence assessments on human rights issues, or of assessing and addressing the rights, needs and interests of Indigenous Peoples groups, while in Economic Development Goldcorp shows no evidence of systems to support in-country capacity building for R&D related to EESG issues in mining.
The maximum value of 1.000 represents the aggregation of best scores achieved for all indicators in a given thematic area, taking into account all companies’ results. As the aggregate best score varies from one area to another, these charts cannot be used to compare company performances across different areas.
All company results are based on public domain data that have been sourced by RMI analysts or provided by companies. In the case of a few companies, very little information was available. It is important to note that a low score may only reflect a lack of relevant information in the company’s publicly available documentation.
Relative company performance
Commitment (11 indicators)
Action (41 indicators)
Effectiveness (21 indicators)
Indicator-by-indicator results
Economic Development
A.01 National and Regional Socio-Economic Development Planning
A.02 Procurement
A.03 Capacity Building
A.04 Enhancing the National Skills Base
Selected Mine sites results
Mine sites individually assessed but not included
in the overall company score
| Mine Site Name | Local Procurement (score /6.00) | Local Employment (score /6.00) | Community grievance mechanism (score /6.00) | Workers grievance mechanism (score /6.00) | Water quality and quantity (score /6.00) | Biodiversity management (score /6.00) | Mine site (score /6.00) |
|---|---|---|---|---|---|---|---|
| Cerro Negro | 0 | 0 | 0 | 0 | 0 | 0 | 0.00 |
| Marlin | 0 | 1 | 0 | 0 | 0 | 0 | 0.17 |
| Peñasquito | 0 | 1 | 0 | 0 | 0 | 0 | 0.17 |
List of all mine sites
| Mine Site Name | Aliases | Country | Company's share (%) | Products | Mining types |
|---|---|---|---|---|---|
| Cerro Negro | Argentina | 100 | Gold | Open-pit | |
| Golden Bear | Canada | 100 | Gold | Open-pit, Underground | |
| Marlin | Guatemala | 100 | Gold, Silver | Open-pit, Underground | |
| Musselwhite | Canada | 100 | Gold | Underground | |
| Peñasquito | Mexico | 100 | Gold, Silver | Open-pit | |
| Porcupine | Hoyle Pond, Dome Underground, Hollinger | Canada | 100 | Gold | Open-pit, Underground |
| Red Lake | Canada | 100 | Gold | Underground | |
| Éléonore | Canada | 100 | Gold | Open-pit, Underground |
Closed mine sites (controlled assets under care & maintenance, closure or post-closure management)
| Mine Site Name | Aliases | Country | Company's share (%) | Products | Mining types | Year of closure |
|---|---|---|---|---|---|---|
| Daisy | USA | 100 | Gold | Open-pit | 1999 | |
| Dona Lake | Canada | 100 | Gold | Underground | 1994 | |
| El Sauzal | Mexico | 100 | Gold | Open-pit | 2016 | |
| Equity Silver | Canada | 100 | Gold, Silver, Copper | Open-pit, Underground | 1994 | |
| Golden Reward | USA | 100 | Gold | Open-pit | 1996 | |
| Rand | USA | 100 | Gold | Open-pit | 2003 | |
| San Martin | Honduras | 100 | Gold | Open-pit | 2010 |
Assets sold during the assessment period
| Mine Site Name | Aliases | Country | Products | Mining types |
|---|---|---|---|---|
| Los Filos | Mexico | Gold | Open-pit |
Main Shareholders
| As of: 09/02/2018 | Shares (%) |
|---|---|
| Van Eck Associates Corporation | 4.37 |
| First Eagle Investment Management, L.L.C. | 4.29 |
| Carmignac Gestion | 3.52 |
| The Vanguard Group, Inc. | 2.41 |
| CIBC Asset Management Inc. | 1.93 |
| Artisan Partners Limited Partnership | 1.67 |
| Deutsche Asset Management Investment GmbH | 1.35 |
| CIBC World Markets Inc. | 1.19 |
| TD Asset Management Inc. | 1.15 |
| RBC Global Asset Management Inc. | 1.08 |
| BMO Nesbitt Burns Inc. | 1.01 |
| Guardian Capital LP | 1 |
| Connor, Clark & Lunn Investment Management Ltd. | 0.99 |
| Schweizerische Nationalbank | 0.91 |
| Majedie Asset Management Limited | 0.82 |
Known Subsidiaries
| As of: 31/12/2016 | Country |
|---|---|
| 0810416BC Ltd. | Canada |
| Administradora de Negocios Mineros S.A. de C.V. | Mexico |
| Desarrollos Mineros, San Luis S.A. de C.V. | Mexico |
| Dominicana Holdings Inc. | Barbados |
| Goldcorp Aureus Inc. | Barbados |
| Goldcorp (Barbados) Inc. | Barbados |
| Goldcorp Canada Ltd. | Canada |
| Goldcorp Holdings GmbH | Switzerland |
| Goldcorp Inc. | Canada |
| Goldcorp International, S.A. de C.V. | Mexico |
| Goldcorp Peñasquito, S.A. de C.V. | Mexico |
| Goldcorp S.A. de C.V. 1 | Mexico |
| Goldcorp Trading GmbH | Switzerland |
| International Mineral Finance S.A.R.L | Luxembourg |
| Les Mines Opinaca Ltées | Canada |
Known Tax Jurisdictions
| Argentina | Barbados | Canada | Luxembourg | Mexico | Switzerland |
Recent involvements in Investor/State investment disputes (since 2014)
Disclaimer
The findings, conclusions and interpretations within this 2018 Responsible Mining Index (RMI) report do not necessarily represent the views of funders, trustees, and employees of the Responsible Mining Foundation, and others who participated in consultations and as advisors to the report.
This report is intended to be for information purposes only and is not intended as promotional material in any respect. The report is not intended to provide accounting, legal, tax or investment advice or recommendations, neither is it intended as an offer or solicitation for the purchase or sale of any financial instrument. In order to fully understand the methodology of the 2018 Responsible Mining Index, the respective sections on the website should be consulted.
The RMI seeks evidence of companies’ policies and practices on economic, environmental, social and governance (EESG) issues, but does not seek to measure the actual outcomes achieved on EESG issues. Results are based only on evidence sourced from the public domain or provided by companies as open data. Whilst this information is believed to be reliable, no guarantee can be given that it is accurate or complete, nor does it preclude the possibility that policies and practices may exist, but which the RMI has not been able to consider for purposes of assessment. In this respect, the results of the low-scoring companies do not necessarily reflect a lack of relevant policies and practices; as they may be due to a lack of public reporting by the companies, limitations in accessing information, and/or any difficulties in accessing the RMI company portal.
It should be noted that, prior to publication, all companies in the Index were invited to check the factual accuracy of the contextual data and evidence upon which the Index is based and to review company information in the RMI document library.
Although every effort has been made to verify the accuracy of translations, the English language version should be taken as the definitive version. The RMI reserves the right to publish corrigenda on its web page, and readers of the 2018 RMI report should consult the web page for corrections or clarifications https://www.responsibleminingindex.org.