Glencore to end silver streaming deal with Wheaton on Peru mine
Wheaton Precious Metals agreed to end its so-called silver "streaming" deal with Glencore on Peru's Yauliyacu mine for $150-million, the Canadian company said on Thursday, so that Glencore could divest the mine.
Pioneered by Wheaton, the streaming model is a type of alternative financing in the mining industry in which funds are provided upfront to a miner in exchange for the sale of a fixed amount of future production, usually by-product, at a discounted price.
Glencore had entered the Yauliyacu silver streaming transaction with Wheaton in 2006 for an upfront payment of $285-million. Wheaton has since earned over $485-million in cash flow from the stream, it said on Thursday.
Glencore currently owns and operates the Yauliyacu mine, which has been producing minerals for over 100 years. The ending of the silver stream is contingent on the global mining and trading giant selling the mine by the end of this year.
It still has a streaming agreement with Wheaton on its stake in the Antamina mine in Peru.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation