ASX-listed gold and silver producer Coeur d’Alene Mines said it will sell its 100% stake in the silver contained at Australia’s Broken Hill mine to Perilya for $55m.

Instead, Coeur d’Alene will invest in its growth initiatives, including its final tailings facility at the Kensington gold mine in Alaska, US.

The Broken Hill mine was purchased in September 2005 for $36.9m.

Coeur said the mine has produced more than 6.1 million ounces of payable silver.