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Wheaton Precious Metals announces acquisition of metal streams from Orion Mine Finance for US$530M

Date Announced

November 15, 2023

Lead Office

Vancouver

Value

530.00 Million USD

On November 15, 2023, Wheaton Precious Metals ("Wheaton") announced its acquisition of metal streams on the Platreef, Kudz Ze Kayah and Curraghinalt projects from entities controlled by Orion Mine Finance ("Orion") for a total of US$530 million.

The Platreef Project is a near-operational mine in South Africa majority owned and operated by Ivanhoe Mines. The Kudz Ze Kayah Project is an advanced development-stage mine located in Yukon, Canada owned and operated by BMC Minerals. The Curraghinalt Project a development stage mine located in Northern Ireland, United Kingdom owned by Dalradian (controlled by Orion). Wheaton agreed to purchase existing gold and platinum/palladium streams on the Platreef Project and an existing silver and gold stream on the Kudz Ze Kayah project from Orion for US$455 million in aggregate. Wheaton agreed to purchase a gold stream on the Carraghinalt Project from Dalradian for US$75 million.

Wheaton, headquartered in Vancouver, British Columbia, is a metal streaming company focused on precious metals.

Orion, based in New York City, New York, is a global investment firm focusing on metals and materials.

McCarthy Tétrault advised Wheaton with a team led by Roger Taplin and Patrick Deutscher that included Chris Langdon, Jenna Clark, Genevieve Loxley, Jesslyn Chong, Ainslie Hurd and Kara Bodie.

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