Article Author:
Reuters
Wheaton Precious Metals has agreed to terminate its so-called silver "streaming" deal with Glencore Plc at Peru's Yauliyacu mine for $150 million, the Canadian company said Thursday.
The streaming model, pioneered by Wheaton, is a form of alternative financing in the mining industry that provides money to miners in advance in exchange for the sale of a certain amount of future production (usually by-products). is provided. at a discounted price. (https://reut.rs/3Cb5zFE)
Glencore participated in the Yauliyacu Silver Streaming deal with Wheaton in 2006 with an upfront payment of $285 million. Wheaton has since received $400 million from the stream. Earning more than $85 million in cash flow.
Glencore now owns and operates the Yauliyak Mine, which has been producing minerals for over 100 years.End of the year.
25} Still has a streaming deal with Wheaton for an interest in Antamina mines in Peru. 30}