Silver Wheaton Acquires Gold Stream from two of Vale’s Mines

Feb. 06, 2013 10:42AM PST

Mining Weekly reported that Silver Wheaton is attempting to move into the gold space with the acquisition of gold streams from Vale’s Salobo and Sudbury mines for $1.9 billion in cash and ten-million warrants.

Mining Weekly reported that Silver Wheaton is attempting to move into the gold market with the acquisition of gold streams from Vale’s Salobo and Sudbury mines for $1.9 billion in cash and ten-million warrants.

As quoted in the market report:

Under the agreement, Silver Wheaton would pay Vale $1.33-billion for gold equal to 25% of the life-of-mine production from its Salobo mine, located in Brazil, as well as $570-million for 70% of the gold production, for a 20-year term, from certain of its Sudbury mines, located in Canada.

To view the whole Mining Weekly report, click here.