Silver Wheaton Corp said on Tuesday it had signed a deal with Brazil's Vale SA to acquire a share of the gold produced at some of the mines owned by the diversified mining giant in Brazil and Canada for $1.9 billion in cash, and 10 million warrants.The deal will immediately boost the Canadian company's production by adding expected average gold production of 110,000 ounces of gold per year over the next 20 years, or 5.9 million silver equivalent ounces.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 move into gold is a departure for Vancouver-based Silver Wheaton, which has focused almost exclusively on silver stream financing deals.
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 2482685.
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 21969090.
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