Canadian Manufacturing

Goldcorp to acquire Exeter for $247M

Goldcorp has acquired Exeter's Caspiche copper and gold mine in Chile, the same day it purchased 50 per cent of the nearby Cerro Casale project


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VANCOUVER—Goldcorp inc. announced Mar. 28 that it has agreed to acquire Exeter Resource Corporation for $247 million.

Exeter’s primary asset is the 100 per cent-owned Caspiche project, located in the Maricunga mineral belt in Chile.

Caspiche is a gold and copper mine, which, according to Goldcorp, has the potential to be developed as a long-life mining operation.

The deal has been unanimously approved by the boards of directors of Goldcorp and Exeter and will be subject to voting by Exeter’s shareholders.

Closing of the transaction is expected to occur no later than Jun. 30, 2017.

Exeter’s Caspiche mine is 10 km to the north of Cerro Casale, a Barrick Gold Corporation mine that Goldcorp has agreed to buy 50 per cent of, also announced Mar. 28.


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