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Glencore Terminates Silver Streaming Deal With Wheaton In Peruvian Mine

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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. (

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}