3-D Map of Goldcorp Mine

Goldcorp is Toronto based mining firm with a 50 year-old mine in Red Lake Ontario. In 1999 CEO Rob McEwen instructed his geologists to release all geological records to the public. The “Goldcorp Challenge” offered $575k to anyone who could find the gold and drew 1,200 people from 50 countries.

Results:

• 110 sites identified 50% new, 80% produced gold.

• 8 million ounces found.

• Company value up from $100 million to $9 billion.

• They did not encourage collaboration