Wheaton Precious Metals buys gold and silver streaming rights on Australia's Jervois Project for $275M.

Wheaton Precious Metals will acquire a gold and silver streaming interest in the Jervois Project in Australia from KGL Resources for $275 million. The deal allows Wheaton to purchase 75% of gold and silver production until certain delivery thresholds are met, then a reduced percentage for the mine's life, paying 20% of spot prices. The Jervois Project, a high-grade copper development, is fully permitted and expected to start construction soon with production targeted for late 2027. This acquisition is expected to add significant gold and silver output to Wheaton's portfolio and offers a potential 14% internal rate of return, with upside from possible mine life extensions.