BHP Group Limited entered into a long-term silver streaming agreement with Wheaton Precious Metals International Ltd. for its 33.75% share of silver production from the Antamina mine in Peru, receiving US$4.3 billion upfront. The transaction unlocks capital from non-core silver production for reallocation to high-return growth projects and shareholder returns without impacting existing customer agreements or debt levels.
Key takeaways
Upfront payment of US$4.3 billion at completion
Silver stream: 33.75% of Antamina silver production (90% payable rate) until 100 million ounces, then 22.5% for remaining life
Ongoing payments: 20% of spot silver price per ounce delivered via metals credits
Effective date: 1 April 2026; completion expected on or around 1 April 2026, no regulatory approvals required