Goldcorp Inc. (GG,G.TO) said Friday that a subsidiary of Goldcorp has completed the sale of its 100% interest in the Wharf mine in Lead, South Dakota to Coeur Mining, Inc. (CDE).
Total consideration paid at closing was $105 million in cash, subject to customary post-closing working capital adjustments.
"This divestiture of Wharf unlocks additional value for Goldcorp shareholders and demonstrates our commitment to focusing on the core assets within our portfolio," said Chuck Jeannes, President and Chief Executive Officer of Goldcorp.
Wharf is expected to produce 74,000 -- 78,0001 gold ounces for the remainder of 2015 at a cost applicable to sales per gold equivalent ounce of $750 - $825.
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