Coeur Mining, Inc. (NYSE: CDE) has announced that AngloGold Ashanti Limited has purchased Coeur’s Crown and Sterling assets. Coeur received a $150 million upfront payment and a deferred $50 million payment upon Crown Sterling meeting a resource target of at least 3.5 million gold ounces. The Crown Sterling assets include approximately 35,500 acres and are located near AngloGold’s existing gold mines in Nye County, Nevada.

Coeur’s decision to sell Crown Sterling is consistent with its objective of maximizing return on its North American asset portfolio by monetizing non-core assets, including the Rochester mine in Nevada, which will be completed mid-next year.