Wheaton Precious Metals targets multi-billion-dollar streaming deals

Wheaton Precious Metals CEO Haytham Hodaly announced that the company expects multi-billion-dollar streaming deals to become a regular component of its growth strategy. This shift follows the company’s $4.3 billion Antamina transaction, which Hodaly noted has moved the firm into a new tier of mining finance.

While Wheaton has historically deployed approximately $1 billion annually toward new streams, the company has committed about $4.7 billion this year. Hodaly indicated that the company could complete roughly one transaction of the scale seen with Antamina annually over the next three to four years. The Antamina deal involved a silver stream on BHP’s share of the copper-zinc mine in Peru.

The company’s growing financial capacity is supported by an annual free cash flow of approximately $2.7 billion. Hodaly, who became CEO on March 31, stated that the core strategy remains focused on high-quality, low-cost, and long-life mines located in stable jurisdictions.