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

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.