Wheaton Precious Metals Invests $4.3B for 67.5% Silver Stream at Antamina
Wheaton Precious Metals agreed to invest $4.3 billion with BHP for an expanded silver stream on the Antamina mine in Peru, boosting its share to 67.5% of silver output. Under the pact, Wheaton will pay 20% of spot price until 100 million ounces are delivered, then 22.5% through 2036.
1. Expanded Silver Stream Agreement with BHP
Wheaton Precious Metals has entered a $4.3 billion streaming agreement with BHP to secure a 67.5% silver interest at Peru’s Antamina mine, one of the world’s largest copper-zinc operations. Under the terms, Wheaton will pay 20% of the spot silver price per ounce until 100 million ounces are delivered, after which the rate increases to 22.5% for the remainder of the mine life through 2036. This deal significantly expands Wheaton’s long-term high-grade silver supply and strengthens its growth and cash flow profile.