Canadian Mining Journal

News

SILVER: Silver Wheaton closes $550M bought deal to pay for Antamina stream



VANCOUVER – Silver Wheaton Corp. has closed a US$550-million bought deal common share financing consisting of 13.14 million shares at a price of US$16.60 each. The proceeds will be used to repay a portion of the loan drawn down for the US$900 million purchase of the Antamina silver stream last November.

The Antamina copper-zinc mine is located about 270 km north of Lima, Peru. The open pit is mined with conventional truck and shovel methods to feed a 137,000 t/d mill. Concentrate slurry is delivered via pipeline to a seaport and sold to smelters and refineries worldwide. In 2015 the project produced 391,100 tonnes of copper.

Partners at Antamina are Teck Resources (22.5%), BHP Billiton (33.75%), Glencore (33.75%), and Mitsubishi Corp.

More information is available at www.Teck.com.