Wheaton Precious Metals Secures $4.3B BHP Silver Stream and Marks Strategic Entry into Australia

Wheaton Precious Metals secures a massive silver stream at Peru's Antamina mine and marks its first Australian entry with a $275M deal for the Jervois project.

By: AXL Media

Published: Apr 4, 2026, 12:01 PM EDT

Source: https://www.mining.com/

The Antamina Deal: A Multi-Billion Dollar Silver Stream

The centerpiece of Wheaton’s recent activity is the massive deal involving the Antamina mine in Peru, one of the world’s premier copper-silver-zinc operations. Under the terms of the agreement with BHP:

Upfront Payment: Wheaton will provide $4.3 billion in capital.

Production Share: Wheaton is entitled to 33% of the silver produced at the mine.

Ongoing Costs: Wheaton will make transfer payments equal to 20% of the spot silver price per ounce.

Step-Down Provision: Once 100 million ounces have been delivered, Wheaton’s share drops to 22.5% for the remainder of the mine's life.