Wheaton Precious Metals Expands Silver Streaming Deal with BHP

Wheaton Precious Metals, a leading precious metals streaming company, has announced the acquisition of an additional silver stream from BHP's Antamina mine in Peru. The new agreement, signed through Wheaton's wholly-owned subsidiary Wheaton Precious Metals International Ltd. (WPMI), expands the company's existing partnership with the global mining giant. According to the press release, WPMI has entered into a 'definitive Precious Metals Purchase Agreement' to acquire 33.75% of the silver production from the Antamina mine for the life of the mine. This adds to Wheaton's existing 22.5% silver stream on the operation, bringing its total silver entitlement to 56.25%. 'This transaction further strengthens our industry-leading precious metals portfolio and cash flow profile,' said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals. 'Antamina is a world-class copper-zinc mine with significant silver by-product production, and we are pleased to be expanding our partnership with BHP, one of the premier mining companies in the world.' The Antamina mine is a large-scale copper-zinc operation located in the Andes mountains of Peru. It is jointly owned by BHP (33.75%), Glencore (33.75%), Teck Resources (22.5%), and Mitsubishi Corporation (10%). The mine is a significant producer of silver as a by-product of its copper and zinc output. The new silver stream acquisition is expected to add approximately 1.8 million ounces of silver to Wheaton's annual production profile, based on Antamina's current life of mine plan. This will further diversify Wheaton's precious metals portfolio and strengthen its position as a leading precious metals streaming company. The transaction is subject to customary closing conditions and is expected to be completed in the second quarter of 2026, according to the announcement.