BRITISH COLUMBIA

Goldcorp selling Wharf mine in South Dakota to Coeur Mining for US$105M

01/12/2015 06:25 EST | Updated 03/14/2015 05:59 EDT
VANCOUVER - Goldcorp (TSX:G) is selling its Wharf mine in Lead, S.D., to Coeur Mining Inc. (NYSE:CDE) for US$105 million in cash.

"This divestiture of Wharf will unlock additional value for Goldcorp shareholders and demonstrates our commitment to focusing on the core assets within our portfolio," president and CEO Chuck Jeannes said in announcing the deal Monday.

"We thank the team at Wharf for their commitment and dedication and . . . we will work closely with the team at site to ensure a smooth transition."

The agreement, which is subject to U.S. antitrust approval and other customary conditions, is expected to close by the end of the first quarter.