January 12, 2017 / 2:35 PM / in a year

Goldcorp to sell Los Filos mine to Leagold

Jan 12 (Reuters) - Canada’s Goldcorp Inc, the world’s No. 3 gold miner by market value, said on Thursday it would sell its Los Filos mine in Mexico to Leagold Mining Corp for $438 million.

Vancouver-based Goldcorp put Los Filos on the block last year as part of a plan to focus on more profitable, core mines.

Goldcorp, which hired the Bank of Nova Scotia to sell Los Filos, said it will receive $279 million in cash, $71 million in Leagold shares, and retain certain tax receivables of about $88 million. (Reporting by Susan Taylor and John Benny in Bengaluru; Editing by Shounak Dasgupta)

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