Wheaton Precious Metals Corp, formerly known as Silver Wheaton Corp, is a Canadian precious metals streaming company. It was founded in 2004 by Peter Barnes and Eduardo Luna. The company has its headquarters in Vancouver, British Columbia, Canada. Wheaton Precious Metals is a pioneer in the precious metals streaming industry, which involves purchasing metal production from mining companies in exchange for upfront payments and future delivery of precious metals at a fixed price.
As a precious metals streaming company, Wheaton Precious Metals does not operate mines itself but instead enters into agreements with mining companies to purchase a percentage of their future metal production at a pre-negotiated price. This allows mining companies to receive upfront capital to fund their projects or reduce debt, while Wheaton Precious Metals gains exposure to the production of precious metals such as gold, silver, and palladium without the operational risks of mining.
The company's streaming agreements are typically for long durations and provide a diversified portfolio of precious metals production from mines located around the world. This diverse asset base helps reduce risk and enhances the company's ability to generate steady cash flows over the long term.
Over the years, Wheaton Precious Metals has grown its portfolio by entering into streaming agreements with reputable mining companies. The company has expanded its presence globally and maintains a strong reputation as a reliable and transparent partner for mining companies seeking financing solutions.
Wheaton Precious Metals has been recognized for its strong financial performance and disciplined approach to precious metals streaming. Its unique business model has made it an attractive investment option for those seeking exposure to the precious metals market without the risks associated with traditional mining operations.