Officials at the $1.5 billion Coeur d’Alene Mines Corp. announced they will relocate their global headquarters from Idaho to Chicago this year; this will be the company’s first such move since incorporation in 1928 while the company changes its name to Coeur Mining.

With 65 employees in downtown Coeur d’Alene, 20 will move to Illinois and remain with the company, according to a company spokeswoman, with the rest staying on until the end of September; the relocation is expected to be completed by the fourth quarter.

CEO Mitch Krebs, who worked for the company in Chicago for seven years before moving to Coeur d’Alene in 2008 to assume his current post, said the new headquarters would improve access to “key stakeholders,” while noting Chicago as “a global, pro-business city,” that “provides access to a broad and deep talent pool,” he said.