Canadian Mining Journal

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PRECIOUS METALS: San Dimas sale pushes Wheaton Q2 earnings to $318M



Wheaton’s streaming arrangement with Sibanye’s Stillwater mine includes the nearby East Boulder mine.

VANCOUVER – Wheaton Precious Metals reports that it had net earnings of $318 million (all U.S. dollars)  in Q2 2018, including the $246 million gain on the sale of the San Dimas silver stream. The company reported record gold production from Salobo in Brazil and generated over $260 million in cash flow.

Also in the quarter, Wheaton arranged a share of a $700 million cobalt stream from Vale’s Voisey’s Bay nickel mine in Labrador and closed a $500 million silver stream from The Stillwater precious metals project in Montana.

Wheaton offered its stockholders a dividend of $0.09 per share in the second quarter, up 29% from the same quarter in 2017.

The detailed quarterly financials are posted at www.WheatonPM.com.