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Goldcorp's Musselwhite Mine Affected By Fire

Goldcorp Inc. (G.TO,GG) said that at about 6:00 PM EDT Friday March 29 an underground fire was reported at the company's Musselwhite Mine. No one was in the mine at the time, as the fire was discovered during shift change. The fire has been extinguished. All employees are accounted for and there are no reported injuries. Local stakeholders and relevant government officials have been notified.

Due to the nature of the fire, the mine must be cleared of gases before repair work commences or mine operations can be restarted. It is too early to determine the source of the fire or the impact on underground operations. Surface operations continue, the company said.

Goldcorp said it carries comprehensive insurance for property damage. Business interruption insurance is also in place to cover fixed costs and lost profits during the period of disruption. Property and business interruption insurance coverage is subject to certain deductibles. An investigation will be conducted to determine the source of the fire.

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