Goldcorp May Take $2.7 Billion Writedown on Argentina Mine
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Goldcorp Inc., the largest gold miner by market value, may take an impairment charge of as much as $2.7 billion on its Cerro Negro mine in Argentina because of foreign-exchange restrictions and inflation in the country.
The after-tax asset writedown would be recorded in the fourth quarter, the Vancouver-based company said today in a statement. Goldcorp started production at Cerro Negro in July.