Parties
Company
Wheaton Precious Metals™ Corp.
Company
Wheaton Precious Metals International Ltd.
Company
Orion Mine Finance
Wheaton Precious Metals™ Corp. and its subsidiary, Wheaton Precious Metals International Ltd., announced a definitive agreement to acquire streams in Ivanhoe Mines' Platreef Project and BMC Minerals' Kudz Ze Kayah Project from Orion Resource Partners, and a new gold stream in Dalradian Gold's Curraghinalt Project. The total upfront cash consideration for these acquisitions is $530 million: $450 million for the Platreef and Kudz Ze Kayah streams, including a $5 million contingency for the latter, and $75 million for the Curraghinalt stream, with $20 million paid upfront and the rest during construction. These streams are expected to significantly enhance Wheaton's production profile with substantial gold, palladium, platinum, and silver output. The Platreef Project, under construction in South Africa, will contribute to Wheaton's reserves and resources in gold, palladium, and platinum. The Kudz Ze Kayah Project, in Canada, will add to Wheaton's gold and silver reserves, while the Curraghinalt Project in the UK will increase gold reserves. The transactions, subject to typical terms and conditions, are expected to close between late 2023 and early 2024. Wheaton's President, Randy Smallwood, emphasized the strategic fit and quality of these acquisitions. The financing for these transactions is supported by Wheaton's strong cash position and available credit.
Deal Type
Merger & AcquisitionIndustry
MiningTransaction
$ 709,831,650Deal Status
ActiveClosing Date