Argentum To Acquire Manquiri From Coeur Mining

 

CHICAGO - Coeur Mining, Inc. has entered into a definitive agreement to sell all of the outstanding capital stock of its wholly-owned subsidiary, Empresa Minera Manquiri, S.A., which is the owner and operator of the San Bartolomé Mine and processing facility located near Potosi, Bolivia. The Agreement provides that Manquiri will be sold to Argentum Investments, AB, a privately-held Swedish company owned by a group of Mexican individuals with extensive mining experience in Latin America. 
“The sale of 100% of the shares of Manquiri reflects our strategy to continually optimize our portfolio and to focus on developing and operating high-quality, North American precious metals assets. San Bartolomé was an important operation for the Company after it was constructed and placed into production in 2008. However, the mine’s short remaining life, higher operating costs and future estimated closure-related costs led the Company to conclude that a sale to a new owner at this time made strong strategic sense,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “By retaining a 2.0% NSR, Coeur will also preserve upside exposure to San Bartolomee as Argentum continues to operate the mine and pursue opportunities to generate additional value from this asset.”