- Business
- Wheaton Precious Metals Corp. (TSX:WPM; NYSE:WPM) is a precious metals streaming company that provides upfront capital to precious metals mining companies in exchange for the right to purchase all or a portion of their silver and gold production at fixed low prices. The company operates through a portfolio of 20 operating precious metals stream and royalty interests, including gold streams from the Salobo mine in Brazil, the Peñasquito mine in Mexico, the Antamina mine in Peru, and the Sudbury mines in Canada; silver streams from the Peñasquito mine, the San Dimas mine in Mexico, and the Yauliyacu mine in Peru; and other interests such as platinum, palladium, and cobalt from mines in Canada, Brazil, Mexico, Peru, Sweden, and Chile. It serves mining operators and investors in the precious metals sector across the Americas, Europe, and select other regions, with no direct mining operations of its own.
Founded in 2004 and headquartered in Vancouver, Canada, Wheaton Precious Metals maintains a low-cost production model that generates strong cash flows through its streaming agreements, enabling ongoing expansion of its asset base. The company targets mid- to large-scale mining projects with proven reserves and experienced operators, focusing on geographically diversified, long-life assets to mitigate operational and geopolitical risks.
In the past two years, Wheaton Precious Metals has pursued strategic growth through several key developments, including the acquisition of a gold stream on Glencore's Rampura Agucha mine in India in 2024, the expansion of its silver stream at Newmont's Cordero project in Mexico announced in early 2025, and a significant streaming agreement for silver and gold from Blackwolf Copper and Gold's Niblack project in Alaska in late 2024. Additionally, the company completed a C$1.2 billion bought deal public offering in mid-2024 to fund further stream acquisitions amid rising precious metals prices, and entered a strategic partnership with Rio Tinto in 2025 to explore additional streaming opportunities on silver output from the Oyu Tolgoi mine in Mongolia. These moves reflect Wheaton's ongoing emphasis on accretive growth and portfolio diversification in a strengthening market for precious metals.