Goldcorp takes big impairment charge, operating earnings fall
July 25 (Reuters) - Goldcorp Inc, the world's largest gold miner by market capitalization, posted a second quarter loss on Thursday on a $2 billion non-cash impairment charge.
The Vancouver-based miner said the after-tax charge was primarily related to exploration value at its Penasquito mine in Mexico.
Goldcorp's net loss in the quarter was $1.9 billion, or $2.38 a share, compared with a profit of $268 million, or 41 cents a share, in the year-ago period. Adjusted to remove one-time items, earnings were 14 cents a share, compared with 41 cents a share a year before.
Revenue fell 18 percent to $889 million.