Wheaton Precious Metals Expands Silver Streaming Partnership with BHP

In a strategic move, Wheaton Precious Metals™ Corp. has announced that its subsidiary, Wheaton Precious Metals International Ltd. (WPMI), has entered into a definitive Precious Metals Purchase Agreement with global resources company BHP. Through this new partnership, Wheaton will acquire an additional silver stream from BHP's Antamina mine located in Peru. According to the press release, the agreement will see Wheaton make an upfront cash payment of $500 million to BHP in exchange for 33.75% of the silver production from the Antamina mine until 140 million ounces have been delivered, after which the stream drops to 22.5%. This builds upon Wheaton's existing silver stream from Antamina, which was originally established in 2015. 'This transaction further strengthens our industry-leading precious metals streaming portfolio and demonstrates our ability to execute accretive deals with world-class mining partners like BHP,' said Randy Smallwood, President and Chief Executive Officer of Wheaton Precious Metals. 'Antamina is a world-class, long-life asset, and we are pleased to expand our partnership with BHP, a leading global resources company.' The Antamina mine is one of the world's largest copper-zinc mines, also producing significant quantities of silver as a by-product. This additional silver stream aligns with Wheaton's strategy of acquiring high-quality precious metals by-product streams from large-scale base metal operations. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions. This news comes as the maritime industry continues to navigate volatile commodity markets and supply chain disruptions. Precious metals streaming agreements like this one provide mining companies with upfront capital to fund operations, while giving streaming partners like Wheaton a share of future production at fixed prices. Industry observers see this as a mutually beneficial model that can help support the maritime sector's energy transition and sustainability goals.