Coeur Mining has agreed to acquire Goldcorp’s Wharf gold mine located near Lead in South Dakota, US for $105m.

The open-pit gold mine has been in production for over 30 years, and is said to have reserves of 560,000oz. gold.

Wharf is expected to produce around 90,000oz. of gold in 2015.

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

Subject to customary closing conditions and regulatory approvals, the transaction is expected to be completed in the first quarter.

Coeur president and CEO Mitchell Krebs said: "The acquisition of Wharf further establishes Coeur as a leading, growing producer of silver and gold in the Americas while improving our overall portfolio with strong cashflow generation in a low-risk jurisdiction."