Silver Wheaton Corp said on Tuesday it had signed a $1.9 billion deal with Brazil's Vale SA to acquire a share of the gold produced at some of the company's mines in Brazil and Canada. Silver Wheaton will pay $1.33 billion for 25 percent of gold produced at the Salobo mine in Brazil over its mine life, and $570 million for 70 percent of gold produced over a 20-year period at some of Vale's mines in Sudbury, Ontario.The deal, which also includes 10 million Silver Wheaton warrants, will immediately boost the silver producer's gold output by some 110,000 ounces a year.The Vancouver-based streaming company pays a lump sum up front to secure future precious metal production. Silver Wheaton will also pay Vale $400 an ounce, or the prevailing market price for gold if lower, at the time of production.Gold was worth about $1,670 an ounce on Tuesday.
Silver Wheaton Corp. (Silver Wheaton) is a mining company, which generates its revenue primarily from the sale of silver. Shares of SLW traded higher by 0.67% or $0.24/share to $36.24. In the past year, the shares have traded as low as $22.94 and as high as $41.30. On average, 3247030 shares of SLW exchange hands on a given day and today's volume is recorded at 2480904.
Silver Wheaton Corp. (Silver Wheaton) is a mining company, which generates its revenue primarily from the sale of silver. Shares of SLW traded higher by 0.45% or $0.16/share to $36.11. In the past year, the shares have traded as low as $23.11 and as high as $41.18. On average, 1024610 shares of SLW.TO exchange hands on a given day and today's volume is recorded at 1045207.
Vale SA (Vale) is a Brazil-based metals and mining company. Shares of VALE fell by 1.83% or $-0.37/share to $19.85. In the past year, the shares have traded as low as $15.77 and as high as $26.72. On average, 14975200 shares of VALE exchange hands on a given day and today's volume is recorded at 21965624.
Source
