— Coeur d’Alene Mines Corp. said Wednesday that it plans to move its headquarters from Idaho to downtown Chicago.
The company, which is changing its name to Coeur Mining, is reportedly negotiating for space at an undisclosed location on South Michigan Avenue. The company expects to complete the move to Chicago in the third quarter of 2013 and to hire at least 60 employees at its downtown headquarters by the end of 2014.
Coeur is a silver producer and a growing gold producer. The company has four precious metals mines in the Americas generating strong production, sales and cash flow in continued robust metals. Coeur produces from its wholly owned operations: the Palmarejo silver-gold mine in Mexico, the San Bartolomé silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. The company also owns a non-operating interest in a mine in Australia, and conducts ongoing exploration activities in Mexico, Argentina, Nevada, Alaska and Bolivia.
“Relocating our headquarters to Illinois will improve our access to key stakeholders and to our operations,” said Mitchell J. Krebs, Coeur’s president and CEO. “Chicago is a global, pro-business city, antransportation hub and provides access to a broad and deep talent pool. We look forward to our active involvement in our new community and are proud to call Chicago our new home.”