About Wheaton Precious Metals Corp. (TSX:WPM)

About

Wheaton Precious Metals Corp. is a leading precious metals streaming company that has evolved from a pure silver streaming company into a diversified portfolio of gold, silver, palladium, platinum, and cobalt assets. Founded in 2007, Wheaton focuses on providing upfront capital to mining companies in exchange for the right to purchase a percentage of their future production at a fixed price. The company is committed to responsible and sustainable growth, emphasizing collaboration with stakeholders and community investment.

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Mineral resource: The Metates gold-silver project, owned by Chesapeake Gold is located in Mexico, 160 kilometers northeast of the city of Durango state and is one of the largest, undeveloped disseminated gold and silver deposits in the world. The Metates project is situated within a window of Mesozoic basement rocks exposed by erosion of the extensive flat-lying Tertiary volcanic cover. The basement complex of Cretaceous to Jurassic aged rocks consists of a sequence of interbedded sandstones, shales, and argillites. Mineralization is typically expressed as sulphide stockwork veinlets or disseminations. Within both the sedimentary and intrusive rocks, veinlets are composed almost completely of pyrite, sphalerite, arsenopyrite, and galena, with very little gangue mineralization such as quartz or calcite. Extensive mineralogical investigations indicate that some amounts of native gold and electrum occur as both rare free mineral grains, as micron-sized grains that are generally enclosed within the pyrite grains, or as solid solution within the crystal structure of the pyrite. In 2023, Chesapeake published a Preliminary Economic Assessment for a sulfide heap leach project at Metates. Due to partial refractory nature of Metates, the materials will undergo a two-stage process of oxidation of the sulfides on an on-off pad, followed by conventional cyanide heap leaching to produce dore. Recoveries are projected to be lower compared to pressure oxidation but the process will not be as capital intensive. In August 2019, Chesapeake exercised its option to repurchase two-thirds of the royalty (1%) for US$9.0 million, with Wheaton continuing to hold a 0.5% royalty interest. In addition, Wheaton has a right of first refusal on any future silver stream or royalty with Chesapeake on Metates.
Projects: ["Peñasquito is Mexico's largest gold mine, second largest silver mine, and one of the country's largest producers of zinc and lead. Located approximately 780-kilometres northwest of Mexico City, the site consists of two sulfide processing lines and a high-pressure grinding roll circuit with a combined capacity of 110,000 tonnes per day (\"tpd\"). The sulfide ore is processed through a conventional crushing, milling, and flotation facility that produces zinc and lead concentrates.\n\nTwo diatreme pipes, Peñasco and Brecha Azul, are the principal hosts for gold–silver–zinc–lead mineralization at Peñasquito. The pipes flare upward and are filled with breccia clasts in a milled matrix of similar lithological composition. The diatremes are surrounded by coalesced halos of lower grade, disseminated sphalerite, galena, and sulphosalts containing gold and silver. Garnet skarn hosted polymetallic mineralization has been identified at depth between the Peñasco and Brecha Azul diatremes. The skarn has horizontal dimensions of approximately 1,000 metres by 1,200 metres and is open at depth.\n\nPeñasquito consists of the Peñasco and Chile Colorado open pit mines, the surface rights in the vicinity of which are held by three ejidos: Ejido Cedros, Ejido Mazapil and Ejido Cerro Gordo. Peñasquito has signed land use agreements with each ejidos, valid through 2035 and 2036, and the relevant private owners.\n\n| Date of Contract | 24-Jul-07 |\n| Term | Life of Mine |\n| Stream | 25% of silver |\n| Upfront Consideration | $485M |\n| Delivery Payment Per Ounce | $4.56 (annual inflation adjustment based on CPI) |\n| Cost Quartile | First |\n\n### Stream Details\n\nFor more information on the Peñasquito mine, please visit: [www.newmont.com (opens in new tab)](https://www.newmont.com/)","The Salobo mine, located in the Pará state of Brazil, is the largest copper deposit ever discovered in Brazil. The low-cost copper-gold mine began operating in 2012 with a design throughput capacity of 12 million tonnes per annum (\"Mtpa\"), and is currently ramping up to an expanded throughput capacity of 36 Mtpa. Salobo is an integrated operation of open pit mining, mineral processing beneficiation, concentrate loading and transportation. The copper concentrate is transported by road from the mine to Vale’s existing rail terminal in Parauapebas, from where it is carried by the Carajás railroad to the Ponta da Madeira maritime terminal located in Sao Luis.\n\nSalobo is classified as an iron-oxide-copper-gold (\"IOCG\") deposit. Global examples include Olympic Dam in Australia, Candelaria–Punta del Cobre in Chile and Sossego in Brazil. Mineralization at the Salobo deposit is hosted by upper-greenschist to lower-amphibolite, metamorphosed rocks of the Igarapé Salobo Group. The Igarapé Salobo Group consists of iron-rich sediments, quartzites and gneisses, metamorphosed to amphibolite facies and is associated with copper–gold and copper–gold–silver mineralization. The major host units are biotite and magnetite schists.\n\n| Date of Contract | 28-Feb-13 |\n| Term | Life of Mine |\n| Stream | 75% of gold |\n| Upfront Consideration | $3,573M |\n| Per Unit Production Payment | $429 (annual 1% inflation adjustment) |\n| Cost Quartile | First |\n\n### Stream Details\n\nFor more information on the Salobo mine, please visit: [www.vale.com (opens in new tab)](https://www.vale.com/)","Capstone Copper’s fully permitted Santo Domingo copper-iron project is located 130-km north-northeast of the city of Copiapó, Chile. Elevation at the site ranges from 1,000 to 1,280 masl, with relatively gentle topographic relief.\n\nThe Santo Domingo deposits are located within the Cretaceous Iron Belt (“CIB”) of the Atacama fault zone. The CIB is a segment of the Atacama fault zone approximately 630 km by 40 km in dimension that hosts numerous iron-oxide–copper–gold (IOCG) type deposits. Mineralization within the deposit area consists of stratiform replacement mantos and breccias within tuffaceous sedimentary rocks (e.g. Santo Domingo Sur deposit) and structurally controlled mineralization along the east–west Santo Domingo fault zone (e.g. Estrellita deposit).\n\nProduction will come from two open pit mines, Santo Domingo and Iris Norte. Mine production is based on process plant throughput of 65,000 t/d for the first 5 years and 60,000 t/d from Year 6, producing copper and magnetite concentrates. Capstone is also looking at options to recover cobalt.\n\nCapstone Copper published the results of an updated feasibility study for the Santo Domingo project, outlining an optimized mine plan, updated capital and operating cost estimates, and a 19-year mine life supported by higher mineral reserve estimates. As a result, total gold production is expected to average 35,000 ounces per year for the first seven years of production, an increase from the 30,000 ounces per year estimate outlined in the 2020 feasibility study, and 22,000 ounces per year for the life of mine, up from 17,000 ounces per year. With construction completed at the Mantoverde project, a deposit situated 35-km northeast of the Santo Domingo project, Capstone plans to advance several value enhancement initiatives within the Mantoverde-Santo Domingo district that are not yet included in the 2024 feasibility study.\n\n| Date of Contract | 24-Mar-21 |\n| Term | Life of Mine |\n| Stream | 100% of gold until 285 koz have been delivered, thereafter dropping to 67% of gold |\n| Upfront Consideration | $290M* |\n| Delivery Payment Per Ounce | 18% of spot |\n| Cost Quartile | First |\n\n### Stream Details\n\n_*Excludes the impact of delay ounces received, which are reflected as a reduction to the upfront consideration paid._\n\nFor more information on the Santo Domingo Project, please visit: [www.capstonecopper.com (opens in new tab)](https://www.capstonecopper.com/)"]
Leadership: Haytham Hodaly (President & CEO, Nearly 30 years of experience in mining investment analysis, previously Senior VP of Corporate Development.), Curt Bernardi (Executive Vice President, Strategy and General Counsel, Over three decades of legal expertise in corporate finance and mergers.), Vincent Lau (Senior Vice President & Chief Financial Officer, Expert in valuation and financing of streaming acquisitions.), Patrick Drouin (President (Wheaton International) & Chief Sustainability Officer, Extensive experience in sustainability and investor relations.), Simona Antolak (Vice President, Communications & Corporate Affairs, Specializes in corporate communications and sustainability strategy.), Felicity Bandic (Vice President, Tax, Extensive experience in mining tax and risk management.), Jamie Beirnes (Vice President, Controller, Oversees financial reporting and compliance.), Neil Burns (Vice President, Corporate Development, Extensive experience in exploration and resource evaluation.), Wes Carson (Vice President, Operations, Over 25 years of experience in mining operations.), Patrick Deutscher (Vice President, Legal Transactions, Specializes in mining sector transactions.), Tamara Howarth (Vice President, Legal & People, Advises on legal and HR issues.), Andrew Lee (Vice President, Finance, Oversees corporate finance and treasury.), Emma Murray (Vice President, Investor Relations, Liaison between Wheaton and the investment community.), Ryan Ulansky (Vice President, Technical Services, Extensive experience in mining engineering.)

Verified data last updated: 2026-10-30

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