Teck Resources grabs Goldcorp’s stake in Mexican project for $50 million

Canada's largest diversified miner Teck Resources (TSX:TCK.B) (NYSE:TCK) is buying Goldcorp’s (TSX:G) (NYSE:GG) 21% minority interest in the San Nicolás copper-zinc project located in Zacatecas, Mexico for $50 million.

Once the deal is completed, which is expected to happen in the third quarter of 2017, Teck will be the sole owner of the San Nicolás project, which it aims to build as an open-pit operation with a three to four-year timeline to production.

The news comes on the heels of the sale of Goldcorp’s sale of its Camino Rojo gold and silver project, also in Mexico, to Orla Mining (TSX-V:OLA), as part of the gold producer’s ongoing efforts to focus on highly profitable, core assets, it said in a separate statement.

Earlier this year, the world's third largest gold producer by market value, agreed to sell Guatemalan Cerro Blanco gold-silver project to Bluestone Resources Inc. (TSX-V: BSR).

Just a day later, it also sold its Los Filos gold-and-silver mine in Mexico to Leagold Mining Corp (TSX-V: LMC-H).

More to come…

San Nicolás camp: office and core storage facility. (Image: Goldcorp’s presentation to investors.)

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