Wheaton Precious Metals announced a definitive agreement to acquire BHP's 33.75 percent share of silver production from the Antamina Mine in Peru for an upfront payment of US$4.3 billion (approximately C$5.87 billion), making it the most valuable streaming transaction to date. Upon closing, Wheaton will receive a combined 67.5 percent of Antamina's silver output, doubling its existing exposure under the Glencore stream.

Wheaton will fund the acquisition through approximately US$1.9 billion in cash on hand, a US$1.5 billion senior unsecured term loan, and a US$0.9 billion draw on its revolving credit facility. The deal is expected to increase Wheaton's 2026 production by 11.3 percent on a pro-forma basis, adding average attributable silver production of approximately 6.0 million ounces per year over the first five years.

Completion is expected on or around April 1, 2026, subject only to customary closing conditions. BMO Capital Markets and Davies Ward Phillips & Vineberg LLP advised BHP.