Published: October 27, 2023 |

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Wheaton Precious Metals™ has entered into a definitive precious metals purchase agreement with Waterton Copper in respect to its 100 percent owned Mineral Park Mine located in Arizona.

The owner of the mine, Origin Mining, is managed under the Waterton Global Resource Management’s umbrella of investments.

“Wheaton is excited to bring Mineral Park back into our portfolio given our long history with the mine, particularly given the work Waterton Copper has done to optimize the operation,” said Randy Smallwood, Wheaton’s president and chief executive officer.

“Our unique understanding of Mineral Park, and its potential, positions us well to assist Waterton Copper in bringing the mine back into production in a sustainable manner. As global efforts to transition to a low-carbon economy accelerate, critical metals, such as copper, that are produced responsibly within politically stable jurisdictions, have never been more important,” added Smallwood.

“Waterton Copper is delighted to have Wheaton Precious Metals’ support,” said Isser Elishis, executive chairman of Waterton Copper.

“Waterton is investing approximately $600 million to optimize Mineral Park including significant capital investments in new primary crushers, secondary and pebble crushing circuits, and new higher-power SAG mills, which are expected to result in decades of operational excellence,” added Elishis.

Wheaton Precious Metals is the world’s premier precious metals streaming company with the highest-quality portfolio of long-life, low-cost assets. Its business model offers investors commodity price leverage and exploration upside but with a much lower risk profile than a traditional mining company. Wheaton delivers amongst the highest cash operating margins in the mining industry, allowing it to pay a competitive dividend and continue to grow through accretive acquisitions. As a result, Wheaton has consistently outperformed gold and silver, as well as other mining investments. Wheaton is committed to strong ESG practices and giving back to the communities where Wheaton and its mining partners operate.

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