Wheaton Precious Metals Corp. (Wheaton) operates as a metal streaming company.
The company’s active subsidiaries are Wheaton Precious Metals International Ltd. (‘Wheaton International’) and Wheaton Precious Metals (Cayman) Co. (‘Wheaton Cayman’).
The company generates its revenue primarily from the sale of precious metals (gold, silver and palladium) and cobalt. Wheaton enters precious metal purchase agreements to purchase all or a portion of the precious metals or cobalt production from mines...
Wheaton Precious Metals Corp. (Wheaton) operates as a metal streaming company.
The company’s active subsidiaries are Wheaton Precious Metals International Ltd. (‘Wheaton International’) and Wheaton Precious Metals (Cayman) Co. (‘Wheaton Cayman’).
The company generates its revenue primarily from the sale of precious metals (gold, silver and palladium) and cobalt. Wheaton enters precious metal purchase agreements to purchase all or a portion of the precious metals or cobalt production from mines located around the globe for an upfront payment and an additional payment upon the delivery of the precious metal or cobalt, and royalty agreements (together, ‘PMPAs’).
As of December 31, 2024, the company had entered into 40 PMPAs (32 of which are precious metal purchase agreements, three of which are early deposit agreements, and five of which are royalty agreements), with 33 different mining companies, for the purchase of precious metals and cobalt relating to 18 mining assets which are operating, 28 which are at various stages of development and three of which have been placed in care and maintenance or have been closed, located in 18 countries.
Kurmuk Project (Gold)
On December 5, 2024, Wheaton International entered a PMPA with Allied (the ‘Kurmuk PMPA’) in respect of gold production from the Kurmuk project located in Ethiopia (the ‘Kurmuk project’).
Kone Project (Gold)
On October 23, 2024, Wheaton International entered a PMPA with Montage (the ‘Kone PMPA’) in respect of gold production from its 90% owned Kone project located in CÔte d’Ivoire (the ‘Kone project’). On December 18, 2024, Montage announced that it has launched the construction of the Kone project, with first gold production scheduled for the second quarter of 2027. The Kone project is fully permitted.
Kudz Ze Kayah Project (Gold and Silver)
Under the Orion Purchase Agreement, Wheaton agreed to acquire the existing gold and silver purchase agreement between Orion and BMC Minerals Ltd. (BMC Minerals) (the KZK PMPA) in respect of gold and silver production from the Kudz Ze Kayah project located in central Yukon, Canada (the Kudz Ze Kayah project or the KZK project). On July 11, 2024, BMC Minerals announced that it had commenced a 10,000-metre drilling program at the Kudz Ze Kayah project.
Curraghinalt Project (Gold)
On November 15, 2023, Wheaton International entered a PMPA with Dalradian (the ‘Curraghinalt PMPA’) in respect of gold production from the Curraghinalt project located in Northern Ireland, United Kingdom (the ‘Curraghinalt project’).
Mineral Park Mine (Silver)
On October 24, 2023, Wheaton International entered a PMPA with Waterton Copper (the ‘Mineral Park PMPA’) in respect of silver production from the Mineral Park mine located in Arizona, United States (the ‘Mineral Park mine’).
Cangrejos Project (Gold)
On May 16, 2023, Wheaton International entered a PMPA with Lumina (the ‘Cangrejos PMPA’) in respect of gold production from the Cangrejos project located in Ecuador (the ‘Cangrejos project’).
Goose Project (Gold)
On February 7, 2022, the company entered a PMPA (the ‘Goose PMPA’) in respect of gold production from the Goose project, part of Sabina’s 100% owned Back River Gold District located in Nunavut, Canada (the ‘Goose project’). Under the Goose PMPA, Wheaton was entitled to acquire from Sabina (a subsidiary of B2Gold Corp. (‘B2Gold’)).
Marathon Project (Gold & Platinum)
On January 26, 2022, the company entered a PMPA with Gen Mining (the ‘Marathon PMPA’) in respect of gold and platinum production from the Marathon project located in Ontario, Canada (the ‘Marathon project’).
El Domo Project (Gold & Silver)
On January 17, 2022, Wheaton International entered a PMPA with Adventus Mining Corporation (‘Adventus’) (the ‘El Domo PMPA’) in respect of gold and silver production from the El Domo-Curipamba project located in Ecuador (the ‘El Domo project’).
Blackwater Project (Silver)
On December 13, 2021, the company entered a PMPA with Artemis (the ‘Blackwater Silver PMPA’) in respect of silver production from the Blackwater project, located in British Columbia in Canada (the ‘Blackwater project’).
Fenix Project (Gold)
On November 15, 2021, the company entered a PMPA with Rio2 (the ‘Fenix PMPA’) in respect of the Fenix gold project in located in Chile (the ‘Fenix project’).
Santo Domingo Project (Gold)
On March 24, 2021, Wheaton International entered a PMPA (the ‘Santo Domingo PMPA’) with Capstone in respect to the Santo Domingo project located in the Atacama region, Chile (the ‘Santo Domingo project’).
Cozamin Mine (Silver)
On December 11, 2020, Wheaton International entered a new PMPA (the ‘New Cozamin PMPA’) with Capstone in respect of the Cozamin mine.
Marmato Mine (Gold & Silver)
On November 5, 2020, Wheaton International entered a PMPA (the ‘Marmato PMPA’) with Aris Mining in respect of the Marmato mine located in Colombia (the ‘Marmato mine’). The Marmato mine consists of an operating Upper Mine and the Marmato Deeps zone development (‘Lower Mine’), both of which are covered by the Marmato PMPA.
Stillwater and East Boulder Mines (Gold & Palladium)
On July 16, 2018, Wheaton International entered a PMPA (the ‘Stillwater PMPA’) to acquire from Sibanye Gold Limited (‘Sibanye-Stillwater’) from the Stillwater and East Boulder mines located in Montana, United States (collectively referred to as the ‘Stillwater mines’).
Voisey’s Bay Mine (Cobalt)
On June 11, 2018, the company entered a PMPA (the ‘Voisey’s Bay PMPA’) to acquire from Vale Switzerland S.A (‘Vale Switzerland’), a subsidiary of Vale.
Kutcho Project (Gold & Silver)
On December 14, 2017, Wheaton entered an early deposit PMPA with Kutcho Copper Corp. (formerly Desert Star Resources Ltd.) (‘Kutcho’) (the ‘Kutcho Early Deposit Agreement’) for the Kutcho project located in British Columbia, Canada (the ‘Kutcho project’).
Cotabambas Project (Gold & Silver)
On March 21, 2016, Wheaton International entered into an early deposit precious metal purchase agreement with Panoro Minerals Ltd. and its wholly owned subsidiary Cordillera Copper Ltd. (‘Panoro’) (the ‘Cotabambas Early Deposit Agreement’) for the Cotabambas project located in Peru (the ‘Cotabambas project’).
Antamina Mine (Silver)
On November 3, 2015, Wheaton International entered a PMPA (the ‘Antamina PMPA’) to acquire from Anani Investments Ltd. (‘Anani’), a subsidiary of Glencore plc (‘Glencore’).
Toroparu Project (Gold & Silver)
On November 11, 2013, Wheaton International entered into a life of mine early deposit precious metal purchase agreement (the Toroparu Early Deposit Agreement) to acquire an amount of gold equal to 10% of the gold production from the Toroparu project (the Toroparu project) located in the Republic of Guyana, South America. On April 22, 2015, the company amended the Toroparu Early Deposit Agreement to include the acquisition of an amount equal to 50% of the payable silver production from the Toroparu project.
Salobo Mine (Gold)
On February 28, 2013, Wheaton International entered a PMPA (the ‘Salobo PMPA’) to acquire from Vale an amount of gold equal to 25% of the life of mine gold production from its producing Salobo mine (the ‘Salobo mine’), located in Brazil.
On March 2, 2015, Wheaton International agreed to amend the Salobo PMPA with Vale Switzerland (the ‘First Amended Salobo PMPA’) to acquire from Vale Switzerland an additional amount of gold equal to 25% of the life of mine gold production from any minerals from the Salobo mine that enter the Salobo mineral processing facility from and after January 1, 2015.
Sudbury Mines (Gold)
On February 28, 2013, the company entered into a PMPA (the ‘Sudbury mines PMPA’) to acquire from Vale Switzerland, an amount of gold equal to 70% of the payable gold production from certain of its producing Sudbury mines located in Canada, including the Coleman mine, Copper Cliff mine, Garson mine, Stobie mine, Creighton mine, Totten mine and the Victor project (the ‘Sudbury mines’) for a period of 20 years.
Constancia Mine
On August 8, 2012, Wheaton International entered a PMPA with Hudbay Minerals Inc. and its subsidiary Hudbay (BVI) Inc. (‘Hudbay’) to acquire 100% of the life of mine payable silver production from the Constancia mine in Peru (the ‘Constancia mine’). On November 4, 2013, Wheaton International amended the PMPA with Hudbay to include the acquisition of an amount equal to 50% of the life of mine payable gold production from the Constancia mine (as amended, the ‘Constancia PMPA’).
777 Mine (Gold & Silver)
On August 8, 2012, the company entered a PMPA (the ‘777 PMPA’) with Hudbay to acquire 100% of the life of mine payable silver and gold production from its producing 777 mine (the ‘777 mine’), located in Canada.
Copper World Complex (Rosemont)
On February 10, 2010, Wheaton International entered a PMPA (the ‘Copper World PMPA’) with Augusta Resource Corporation (subsequently acquired by Hudbay) to acquire an amount equal to 100% of the life of mine silver and gold production from its Rosemont copper project (the ‘Rosemont project’) part of the Copper World complex located in Pima County, Arizona.
Barrick Mines and Pascua-Lama Project (Silver)
On September 8, 2009, the company entered into a PMPA (the ‘Pascua-Lama PMPA’) with Barrick Gold Corporation (‘Barrick’) pursuant to which it agreed to purchase an amount of silver equivalent to 25% of the life of mine payable silver production from Barrick’s Pascua-Lama project (the ‘Pascua-Lama project’) located on the border of Chile and Argentina, as well as an amount of silver equivalent to 100% of the silver production from its Lagunas Norte mine (the ‘Lagunas Norte mine’) and Pierina mine (the ‘Pierina mine’), which are both located in Peru, and its Veladero mine (the ‘Veladero mine’) (Wheaton’s attributable silver production is subject to a maximum of 8% of the silver contained in the ore processed at the Veladero mine during the period), which is located in Argentina, until the end of 2015 (the ‘Barrick Transaction’).
Minto Mine (Gold & Silver)
In connection with the Silverstone Acquisition, on May 21, 2009, the company acquired the existing PMPA dated November 20, 2008, between Silverstone and Minto Explorations Ltd. (the ‘Minto PMPA’) in respect of the Minto mine located in Yukon, Canada (the ‘Minto mine’). Under the Minto PMPA, Wheaton is entitled to acquire 100% of the silver produced from the Minto mine and 100% of the first 30,000 ounces of gold produced per annum and 50% thereafter.
Neves-Corvo Mine (Silver)
In connection with the Silverstone Acquisition, on May 21, 2009, the Company acquired the existing PMPA (the ‘Neves-Corvo PMPA’) dated June 5, 2007, between Silverstone and Lundin Mining Corporation (‘Lundin’) in respect of the Neves-Corvo mine in Portugal (the ‘Neves-Corvo mine’). Under the Neves-Corvo PMPA, Wheaton International is entitled to acquire 100% of the silver produced from the Neves-Corvo mine for the life of mine (to June 5, 2057)
Aljustrel Mine (Silver)
In connection with the Silverstone Acquisition, on May 21, 2009, the company acquired the existing PMPA between Silverstone and Lundin (the ‘Aljustrel PMPA’) in respect of the Aljustrel mine in Portugal (the ‘Aljustrel mine’). Under the Aljustrel PMPA, Wheaton International is entitled to acquire 100% of the silver produced from the Aljustrel mine (the ‘Aljustrel mine’) for the life of mine (to June 5, 2057).
Loma de La Plata Mine (Silver)
In connection with the Silverstone Acquisition, on May 21, 2009, the company acquired an existing debenture with Aquiline Resources Inc. (which was acquired by Pan American Silver Corp. (‘PAAS’)) convertible into an agreement to purchase 12.5% of the life of mine silver production from the Loma de La Plata (the ‘Loma de La Plata project’) zone of the Navidad project in Argentina.
Peñasquito Mine (Silver)
On July 24, 2007, Silver Wheaton Luxembourg entered a PMPA (the ‘Peñasquito PMPA’) with Goldcorp Inc. (‘Goldcorp’) and Minera Peñasquito, S.A. de C.V. (‘Newmont Peñasquito’), a wholly owned subsidiary of Goldcorp, pursuant to which Silver Wheaton Luxembourg agreed to purchase 25% of the payable silver produced by Newmont Peñasquito from the Peñasquito mine located in Mexico.
Stratoni Mine (Silver)
On April 23, 2007, Wheaton International entered into a PMPA (the ‘Stratoni PMPA’) with European Goldfields Limited (‘European Goldfields’) (which was acquired by Eldorado Gold Corporation (‘Eldorado’) on February 24, 2012), and Hellas Gold S.A. (‘Hellas Gold’), a 95%-owned subsidiary of European Goldfields, pursuant to which Wheaton International agreed to purchase 100% of the payable silver produced by Hellas Gold from the Stratoni mine (the ‘Stratoni mine’) located in Greece.
Los Filos Mine (Silver)
The Los Filos mine is located in the Nukay mining district of central Guerrero State in southern Mexico. Wheaton International entered into an agreement with Goldcorp to acquire 100% of the silver production from the Los Filos mine for a period of 25 years, commencing October 15, 2004 (the Los Filos PMPA) and expected to terminate on October 15, 2029. On April 7, 2017, Leagold Mining Corporation (Leagold) completed the acquisition of the Los Filos mine from Goldcorp. In connection with the acquisition, the Los Filos PMPA was amended to include a corporate guarantee from Leagold. Goldcorp’s guarantee of deliveries in respect of the Los Filos mine remains in place.
Keno Hill Mines (Silver)
On October 2, 2008, the company entered into a PMPA (the Alexco PMPA) with Alexco Resources Corp. (Alexco), Elsa Reclamation & Development Company Ltd. and Alexco Keno Hill Mining Corp., each subsidiaries of Alexco, pursuant to which the company agreed to pay, subject to the completion of certain conditions to acquire 25% of all payable silver produced from the Keno Hill district, including the producing Bellekeno mine in the Yukon Territory, Canada (the Keno Hill mines).
San Dimas Mine (Gold & Silver)
In connection with First Majestic Silver Corp.’s (‘First Majestic’) acquisition of Primero Mining Corp. (the ‘Acquisition’), as of May 10, 2018, the company terminated the San Dimas SPA4 and entered into a new precious metal purchase agreement with First Majestic (the ‘San Dimas PMPA’) to purchase an amount of gold equal to 25% of the life of mine payable gold production from the San Dimas mine plus an additional amount of gold equal to 25% of the life of mine payable silver production from the San Dimas.
Keno Hill Mines (Silver)
On October 2, 2008, the company entered a PMPA (the ‘Alexco PMPA’) with Alexco Resources Corp. (‘Alexco’), Elsa Reclamation & Development Company Ltd. and Alexco Keno Hill Mining Corp.
Yauliyacu Mine (Silver)
On March 23, 2006, Wheaton International entered a PMPA (the ‘Yauliyacu mine PMPA’) with Glencore International AG (‘Glencore International’) and its subsidiary Anani to acquire an amount equal to 100% of the payable silver produced from the Yauliyacu mining operations (the ‘Yauliyacu mine’) in Peru.
DeLamar Royalty
On February 20, 2024, the company, through its wholly owned subsidiary Wheaton Cayman, purchased a 1.5% net smelter return royalty interest (the ‘DeLamar Royalty’) in the DeLamar and Florida mountain project located in Idaho, United States (the ‘DeLamar project’) from a subsidiary of Integra Resources Corporation (‘Integra’).
Mt Todd Royalty
On December 13, 2023, the company, through its wholly owned subsidiary Wheaton Cayman, purchased a 1.0% gross revenue royalty interest (the ‘Mt Todd Royalty’) in the Mt Todd gold project located in Northern Territory, Australia from a subsidiary of Vista.
Black Pine Royalty
On September 9, 2023, the company, through its wholly owned subsidiary Wheaton Cayman, purchased a 0.5% net smelter return royalty interest (the ‘Black Pine Royalty’) in the Black Pine project located in Idaho, United States from Liberty Gold.
Brewery Creek Royalty
On January 5, 2021, the company 2.0% net smelter return royalty interest on the first 600,000 ounces of gold and 2.75% thereafter from ore extracted from the Brewery Creek quartz mineral claims located in the Yukon Territories, Canada owned by Golden Predator Exploration Ltd. (‘Golden Predator’), a subsidiary of Victoria Gold Corp. (‘Victoria Gold’), and any mineral tenure derived therefrom (the ‘Brewery Creek Royalty’).
Metates Royalty
On August 7, 2014, the company, through its wholly owned subsidiary Wheaton Cayman, purchased a 1.5% net smelter return royalty interest (the ‘Metates Royalty’) in the Metates properties located in Mexico from Chesapeake Gold Corp. (‘Chesapeake’).
History
The company was founded in 2004. The company was formerly known as Silver Wheaton Corp. and changed its name to Wheaton Precious Metals Corp. in 2017.
