Wheaton Precious Metals invested $4.3 billion to acquire an additional 33.75% silver stream on the Antamina copper-zinc mine in Peru, boosting its total silver entitlement to 67.5% of the mine’s output. The agreement sets a 20% spot silver price per ounce streaming fee until 100 million ounces are delivered, after which the fee adjusts to 22.5% through 2036.

By securing over two-thirds of Antamina’s silver production, Wheaton locks in decades of low-cost silver supply and enhances its margin profile. The expanded stream strengthens predictable cash flow, supports growth targets, and cements Wheaton’s position among the world’s largest silver producers.