Wheaton to enter the gold streaming case with the minor Sibanye

Wheaton Precious Metals Corp., the world's largest money streaming company, announced Monday that it would purchase all gold badets from the Stillwater and East Boulder mines of Sibanye Gold Limited in Wyoming.

$ 500 million payment to Sibanye-Stillwater as part of the deal, which also includes some of the palladium ore badets.

Wheaton of Vancouver stated that she will make ongoing payments equal to 18% of cash prices. reached the prepayment goal of $ 500 million. Subsequently, Wheaton will increase the payment to 22% for the delivery of precious metals

The metal streaming companies sign agreements with mining companies to buy everything or part of their production.

Wheaton stated that he would buy all of Stillwater's gold production during the life of the mine and would receive 4.5% of the total production of palladium at the beginning.

Gold spot prices rose 0.2% to $ 1,243.72 on Monday. The announcement comes just days after signing a similar deal with Vale, Brazil, to buy cobalt mined after 2021 as a by-product of the Vale mine in northern Labrador in Canada.