BHP Completes Silver Streaming Agreement with Wheaton Precious Metals

BHP Group Limited announced the completion of a long-term silver streaming transaction with Wheaton Precious Metals International Ltd., a subsidiary of Wheaton Precious Metals Corp. The agreement pertains to BHP's share of silver production from the Antamina Mine in Peru. BHP has received US$4.3 billion in upfront consideration. In exchange, BHP will deliver the equivalent of 33.75% of the silver produced by Antamina, subject to a 90% payable rate. This rate will decrease to 22.5% after 100 million ounces of silver have been delivered. The settlement will be managed through metal credits rather than physical silver delivery. Wheaton Precious Metals is described as the world's largest precious metals streaming company, with a focus on gold and silver and a commitment to ESG practices.