Inglorious writedowns: Gold sector’s bad bets wiping out lifetime earnings – and investor confidence

TORONTO – Goldcorp Inc. could soon join an inglorious group: large gold miners that have a net loss to show for their entire history as corporate entities. The Vancouver-based company warned this week that it expects to record an impairment charge of US$2.3 billion to US$2.7 billion on its Cerro Negro mine in Argentina. Given that…