Wheaton Precious Metals Enters Into Agreement To Terminate Its Existing Silver Stream On The Yauliyacu Mine
TSX | NYSE | LSE: WPM VANCOUVER, BC , Aug. 18, 2022 |CNW| - Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is announcing that it has entered into a definitive agreement with certain subsidiaries of Glencore plc ("Glencore") (LSE: GLEN) to terminate its silver stream on the Yauliyacu Mine in Peru for a cash payment of US$150 million , less the aggregate value of any deliveries to Wheaton of silver produced in 2022 prior to closing. Wheaton has agreed to terminate the stream in order to help facilitate the sale by Glencore of the Yauliyacu Mine. "Yauliyacu has been part of Wheaton''s portfolio since 2006 and has been integral to the history of our company. Combined with San Dimas and Zinkgruvan, Yauliyacu gave us the scale to grow the streaming business and become the company we are today," said Randy Smallwood , Wheaton''s President and Chief Executive Officer. "Consistent with a core principle of working with our partners, Wheaton has agreed to terminate the stream, adding even more financial capacity to explore new opportunities that we believe are in the best interests of our shareholders.
Wheaton Precious Metals Enters Into Agreement To Terminate Its Existing Silver Stream On The Yauliyacu Mine
TSX | NYSE | LSE: WPM VANCOUVER, BC , Aug. 18, 2022 |CNW| - Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is announcing that it has entered into a definitive agreement with certain subsidiaries of Glencore plc ("Glencore") (LSE: GLEN) to terminate its silver stream on the Yauliyacu Mine in Peru for a cash payment of US$150 million , less the aggregate value of any deliveries to Wheaton of silver produced in 2022 prior to closing. Wheaton has agreed to terminate the stream in order to help facilitate the sale by Glencore of the Yauliyacu Mine. "Yauliyacu has been part of Wheaton''s portfolio since 2006 and has been integral to the history of our company. Combined with San Dimas and Zinkgruvan, Yauliyacu gave us the scale to grow the streaming business and become the company we are today," said Randy Smallwood , Wheaton''s President and Chief Executive Officer. "Consistent with a core principle of working with our partners, Wheaton has agreed to terminate the stream, adding even more financial capacity to explore new opportunities that we believe are in the best interests of our shareholders.