Wheaton’s new CEO sees billion-dollar streaming era
The Antamina deal boosts Wheaton's cash flow, enabling bigger mining acquisitions.
Wheaton Precious Metals (TSX, NYSE: WPM) anticipates multi-billion dollar streaming deals will become a regular component of its growth strategy, CEO Haytham Hodaly stated on The Northern Miner Podcast. The recent $4.3-billion Antamina copper-zinc mine transaction in Peru propelled the mining company into a new financial league, prompting Hodaly’s strategic shift.
Instead of pursuing multiple deals simultaneously, Wheaton plans to complete roughly one transaction of this magnitude annually over the next three to four years. Historically, Wheaton has invested nearly $1 billion annually in new streams, but has allocated about $4.7 billion this year while maintaining over $2.5 billion of capacity on its revolving credit facility.
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