Wheaton Precious Metals Corp. (NYSE: WPM) (TSX: WPM) announced that its subsidiary, Wheaton Precious Metals International Ltd., has completed a previously disclosed silver stream transaction with BHP related to the Antamina mine in Peru. The deal, valued at $4.3 billion, secures for Wheaton the rights to 33.75% of payable silver from Antamina until 100 million ounces are delivered, after which the stream drops to 22.5% for the remaining life of mine. In exchange, Wheaton made a $4.3 billion upfront payment and will make ongoing payments equal to 20% of the spot silver price for each ounce delivered.
The Antamina mine, one of the world's largest copper mines, also produces significant amounts of silver as a by-product. This transaction positions Wheaton to enhance its long-term production and cash flow by adding a high-quality, low-cost stream from a long-life asset. The deal is expected to contribute meaningful silver production to Wheaton's portfolio, diversifying its revenue streams and strengthening its balance sheet.
Wheaton Precious Metals is recognized as the world's premier precious metals streaming company, offering investors exposure to a diversified portfolio of low-cost, long-life mines globally. Through strategic streaming agreements, Wheaton partners with mining companies to secure a portion of their future precious metals production. The company is committed to responsible mining practices and employs rigorous due diligence to unlock long-term value for shareholders while supporting the broader mining industry.
The completion of this transaction underscores Wheaton's ability to execute large-scale streaming deals and its continued focus on accretive growth. The Antamina silver stream is expected to provide a steady, long-term source of silver production, complementing Wheaton's existing portfolio of gold, silver, and palladium streams. The company's shares are listed on the Toronto Stock Exchange, New York Stock Exchange, and London Stock Exchange under the symbol WPM.
For more information, visit the company's newsroom at https://ibn.fm/WPM. The full press release is available at https://ibn.fm/y20gR.
