OREANDA-NEWS. GOLDCORP INC. (TSX: G, NYSE: GG) announced today that its subsidiary, Minera Pe?asquito, has reached a definitive court approved settlement with the Cerro Gordo Ejido relating to surface land rights to 600 hectares (approximately 1,483 acres) of land located within the confines of the Pe?asquito Mine site.

Minera Pe?asquito negotiated an agreement for use of the land prior to the construction of the mine, however, in 2009 the Cerro Gordo Ejido commenced an action against Pe?asquito in Mexico's agrarian courts challenging the land use agreement. Following a series of legal proceedings, the agrarian courts ruled on June 18, 2013, that the land use agreement was null and ordered the land to be returned to the Cerro Gordo Ejido. The settlement reached fully resolves the dispute. Concurrently, Minera Pe?asquito and the Cerro Gordo Ejido entered into a new thirty year surface land use agreement on commercial terms for the 600 hectares.

"We are pleased to have reached a resolution to this issue and wish to thank the Mexican Government, in particular the Secretariats of Economy ("SE"), of the Interior ("SEGOB") and of Agrarian, Territorial and Urban Development ("SEDATU"), and the State Government of Zacatecas for their efforts to help bring these negotiations to a successful conclusion," said

Joe Dick, Goldcorp Senior Vice President, Latin America.

Pe?asquito is the largest gold producer in Mexico with gold production expected to be between 700,000 and 750,000 ounces in 2015. The mine employs approximately 4,250 employees and contractors. 

Goldcorp is one of the world's fastest growing gold producers. Its low-cost gold production is located in safe jurisdictions in the Americas and remains 100% unhedged.