|
Wheaton Precious Metals Corp on Tuesday said its mineral output had ‘surpassed’ expectations, as it raised production targets for the year ahead. The Vancouver-based mining firm produced 691,670 gold equivalent ounces in 2025, ahead of guidance which had ranged from 600,000oz to 670,000oz, and up from 633,481oz in 2024. Of the total, gold accounted for 416,286oz, with gold sales up to 411,005oz from 332,701oz the year prior. Silver output totalled 22,434oz, and silver sales rose to 19,796oz from 16,072oz on-year. Wheaton is targeting sustained growth in 2026, eyeing production between 860,000oz and 940,000oz gold equivalent ounces. It forecast average prices per ounce at $4,800 for gold, and $80.00 for silver, which the firm noted had outpaced other metals in 2025. Looking further ahead, Wheaton sees annual production hitting 1.2 million gold equivalent ounces by 2030. It will publish more detailed guidance alongside annual results on March 12. Tuesday’s update follows news of a silver streaming deal between a Wheaton subsidiary and Melbourne-based mining major BHP Group Ltd. Wheaton Precious Metals International will receive a combined 67.5% of all the silver produced from Peru’s Antamina mine when the deal closes, up from the 33.75% it currently earns under a deal with Glencore PLC. ‘Deepening our exposure to an asset of this scale, quality and longevity is a unique and transformative opportunity for Wheaton,’ noted Wheaton President Haytham Hodaly. Chief Executive Randy Smallwood added: ‘Our expanded stream on Antamina reinforces Wheaton’s role as one of the largest silver producers in the world and further adds to one of the strongest growth profiles in the mining sector.’ The CEO said earlier this month that he would be stepping down after 15 years at the helm. The company has named Hodaly as his successor, from March 31. Smallwood continued on Tuesday: ‘The momentum we built over the past year provides a solid foundation for what we expect to be a sector-leading growth profile. We believe Wheaton is on track to reach unprecedented levels of precious metals production within the streaming space.’ Wheaton shares fell 1.4% to 10,450.00 pence on Tuesday afternoon in London, but have risen 93% over the past year. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
