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Reuters reported. Goldcorp engages in the acquisition, exploration, development, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America. The company primarily explores for gold, silver, lead, zinc, and copper. Its principal mining properties include the Red Lake, Porcupine, Musselwhite, and Éléonore mines in Canada; the Peñasquito and Los Filos mines in Mexico; the Marlin mine in Guatemala; the Cerro Negro and Alumbrera mines in Argentina; and the Pueblo Viejo mine in the Dominican Republic. The company was founded in 1954 and is headquartered in Vancouver, Canada. Chief executive David Garofalo told Reuters in late July that Goldcorp was looking at offloading the Mexican mine, as well as weighing options for its Alumbrera mine in Argentina and the Marlin mine in Guatemala. Considered by Goldcorp as a non-core asset, Los Filos is a “smaller scale” mine that lacks economies of scale, he added. Garofalo would not speculate on a sales value for any of the assets but said Goldcorp would be happy to be paid in part in the shares of the acquirer, as happened in 2010 when it sold its Escobal silver deposit to Tahoe Resources Inc. (NYSE: TAHO). Goldcorp acquired a 40 percent stake in Tahoe through that deal. It later sold its stake for around $1 billion. “We like supporting new generation producers like that and we’d be happy to do something like that with any of these assets,” Garofalo told Reuters. The Los Filos operation consists of two open-pit mines – Los Filos and El Bermejal – and one underground mine. The open-pit operation began commercial production in January 2008. Los Filos has proven and probable gold reserves of 1.46 million ounces and 10.55 million ounces of silver, the company reported. Gold production at Los Filos in 2015 totaled 272,900 ounces. During 2015, Los Filos commenced a study to perform a detailed assessment of its operating options, including the update of the block model with additional drill data. The study was completed in the fourth quarter of 2015 and the findings were incorporated into an updated Los Filos life of mine plan. “As a result of these findings and the change in long-term metal price assumptions, recoverable ounces and the associated future after-tax cash flows decreased which resulted in a reduction of the estimated recoverable value of Los Filos and a shortened mine life,” Goldcorp said. Its net asset value was estimated at $617 million in an August RBC Capital Markets report. The mine is now operating under a revised, shorter mine life plan that targets higher grades of gold. Canadian gold miner Torex Gold Resources Inc is seen as a logical buyer because it has a mine about 41 kilometers (25 miles) from Los Filos, the sources said. Several other Canadian and global players with mines in Mexico could also take a look, the sources added. With Torex ramping up its own Guerrero mine, it’s unclear how keen the company is to double down in the region, which has had social and crime issues and the occasional shutdown. “As neighbors with potential synergies, it is almost incumbent upon us to look. We will do so to find out if we should be interested,” Torex CEO Fred Stanford said. Other Canadian gold miners with a presence in Mexico include Yamana Gold, Agnico Eagle Mines, New Gold , Argonaut Gold Inc, Alamos Gold Inc, Timmins Gold Corp, McEwen Mining and Primero Mining Corp. Los Filos gold production is estimated at 328,000 ounces this year and 404,000 ounces in 2017. It is expected to slip to 166,000 ounces in 2020, its final year of operation, RBC analysts have forecast, according to Reuters.]]>