Wheaton Precious Metals Corp. (NYSE: WPM) (TSX: WPM) has entered into a definitive precious metals purchase agreement with KGL Resources for a portion of the gold and silver production from the Jervois Project in Australia, the company announced. This marks Wheaton's first streaming transaction in Australia, expanding its portfolio of assets tied to critical metals in stable jurisdictions aligned with global demand for low-carbon energy infrastructure.
The agreement is expected to support construction funding for the fully permitted copper project, which is nearing development. By securing a stream on the precious metals production, Wheaton provides KGL Resources with upfront capital to advance the Jervois Project, while Wheaton gains exposure to a high-quality, long-life mine in a mining-friendly jurisdiction.
Wheaton Precious Metals is the world's premier precious metals streaming company, offering shareholders access to a portfolio of low-cost, long-life mines. Through strategic streaming agreements, Wheaton partners with mining companies to secure a portion of their future precious metals production. The company employs due diligence practices with a goal of unlocking long-term value for shareholders while supporting the broader mining industry.
This transaction underscores Wheaton's strategy to expand its streaming portfolio into new regions and commodities that are critical for the global transition to low-carbon energy. Copper, in particular, is essential for electrical wiring, renewable energy systems, and electric vehicles. The Jervois Project, located in Australia's Northern Territory, is a fully permitted copper project with significant gold and silver by-products.
The full press release is available at https://ibn.fm/Bveq5. For the latest news and updates relating to WPM, visit the company's newsroom at https://ibn.fm/WPM.
Wheaton's shares are listed on the Toronto Stock Exchange, New York Stock Exchange, and London Stock Exchange under the symbol WPM. The company is committed to responsible mining practices and aims to deliver long-term value to shareholders while providing the mining industry with access to capital.
This announcement comes as Wheaton continues to diversify its asset base and secure long-term, low-cost precious metals streams. The Jervois Project is expected to contribute to Wheaton's production profile and support its growth objectives.
