Blockchain Registration Transaction Record

Wheaton Precious Metals Doubles Antamina Silver Stake in $4.3B Deal

Wheaton Precious Metals acquires BHP's 33.75% silver stream from Peru's Antamina Mine for $4.3B, doubling its stake to 67.5% of production starting 2026.

This acquisition matters because it significantly strengthens Wheaton Precious Metals' position in the global silver market at a time when silver demand is growing across multiple sectors. For investors, the deal enhances Wheaton's production profile with approximately 6 million additional ounces annually, potentially increasing revenue and dividend capacity. The transaction also demonstrates the continued viability of streaming agreements as a financing model for mining operations, providing capital to producers like BHP while giving streaming companies like Wheaton exposure to commodity prices with lower operational risk. In the broader context, increased silver production from major mines like Antamina helps meet growing industrial demand for silver in electronics, solar panels, and other technologies, while also supporting investment demand for precious metals as inflation hedges. The deal reinforces Wheaton's status as a leading streaming company and could influence similar transactions in the mining sector.