Silver Wheaton Seeks Copper Streaming Deal with Glencore Xstrata

Bloomberg reported that Randy Smallwood, CEO of Silver Wheaton Corp. (TSX:SLW,NYSE:SLW), said today that the company is interested in securing a streaming contract for future output from Glencore Xstrata plc’s (LSE:GLEN) Peru-based Las Bambas copper mine.

As quoted in the market news:

The Vancouver-based company, which helps miners pay for projects in exchange for a discount on their future silver and gold output, has had discussions with other parties about a streaming deal at Las Bambas, Silver Wheaton Chief Executive Officer Randy Smallwood said today on the sidelines of the Denver Gold Forum.

‘About 5 percent of the revenue from Las Bambas comes from gold and silver, from precious metals, and it’s definitely a project that’s got healthy margins,’ Smallwood said. ‘We think that a streaming contract would add a lot of value to the sales process.’

Click here to read the full Bloomberg report.