Goldcorp Inc. said Monday it will post a US$170-million charge against its 2006 earnings and it has agreed to sell the Peak mine in Australia and the Amapari mine in Brazil to GPJ Ventures Ltd. for US$200 million in cash and US$100M in new Peak Gold common shares.

Proven and probable gold reserves at Amapari have been cut to 485,000 ounces as of Dec. 31, 2006, reflecting the exclusion of sulphide mineralization that was previously included.

That will result in the $170M impairment charge, Vancouver-based Goldcorp said in a release.

Goldcorp said it will end up with about 24 per cent of Peak Gold, the new name for GPJ Ventures.

"This transaction underscores our commitment to simplifying Goldcorp's asset portfolio," said CEO Kevin McArthur.

"It sharpens our geographic focus and provides capital that will help fund our growth opportunities and enhance our already-strong financial flexibility. Our ownership interest in Peak Gold will also allow us to participate financially in the future success of that exciting new growth platform."