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Wheaton Precious Metals Corp said it entered into an agreement with entities advised by Orion Resources Partners to buy existing streams. The Vancouver-based precious metals streaming company said it will acquire streams in respect of Ivanhoe Mines’ Platreef project and BMC Minerals’ Kudz Ze Kayah precious metals purchase agreement for a gold stream. The Platreef project is in South Africa’s Limpopo province, and the Kudz Ze Kayah project is in Yukon, Canada. Further, Wheaton Precious entered into a new precious metals purchase deal for a gold stream regarding the Dalradian Gold’s Curraghinalt project in Belfast. Wheaton Precious will pay up to $530 million upfront, with $450 million paid to Orion on the closing of the Platreef streams and Kudz Ze Kayah streams. Further, $20 million will be paid to an affiliate of Dalradian Gold. ‘The acquisition of these diverse, high-quality streams fits seamlessly into our portfolio of high margin, low-cost assets, with near-term production from Platreef significantly adding to our already robust growth profile,’ said Wheaton Chief Executive Officer Randy Smallwood. The Curraghinalt project is currently in the final stages of the permitting process, with a forecasted 2-year construction period expected to start in 2025. Wheaton Precious shares were untraded in London on Thursday afternoon, last quoted at 3,610.00 pence each. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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