Diversified miner BHP Group Ltd. (NYSE:BHP) has signed a $4.3-billion silver streaming agreement with Wheaton Precious Metals Corp. (NYSE:WPM) covering its share of output from the Antamina mine in Peru. Based on the upfront consideration, this is the most valuable precious-metals streaming transaction to date. “We are pleased to partner with Wheaton – a global leader in precious metals streaming. BHP’s investment in Antamina has delivered value to investors through strong copper production performance, ...

Summary of Wheaton Precious Metals Conference Call Company Overview - **Company**: Wheaton Precious Metals (NYSE: WPM) - **Event**: Silver Stream Transaction conference call regarding Antamina mine - **Date**: February 17, 2026 Key Points Industry and Company Context - Wheaton Precious Metals is positioned as the largest precious metal streaming company globally, with a focus on silver production [3][4] - The company has acquired an additional silver stream on the Antamina mine in Peru, partnering with BHP [3][4] Acquisition Details - **Transaction Value**: $4.3 billion for 33.75% of the silver produced at Antamina, marking the largest precious metal stream ever executed [3][4][8] - **Payment Structure**: Upfront payment of $4.3 billion and ongoing payments equal to 20% of the spot silver price [8][19] - **Production Forecast**: Attributable silver production is expected to average approximately 6 million ounces per year for the first five years and 5.4 million ounces per year for the first ten years [9] Production Guidance and Growth - Updated production guidance indicates a 50% growth by 2030, targeting 1.2 million gold equivalent ounces annually [4][17] - Antamina is projected to contribute approximately 18% of Wheaton's total production by 2030, solidifying its position as the second-largest asset in the portfolio [9][11] Asset Quality and Longevity - Antamina is recognized as a long-life, low-cost operation, contributing to immediate production and cash flow [5][11] - The mine has a proven track record of extending its life through resource conversion and exploration, with a current mine life extended to 2036 [12][63] - The asset is expected to operate for decades, with significant exploration potential and ongoing investments in infrastructure [12][36] Financial Position and Strategy - Wheaton plans to fund the acquisition through a combination of existing liquidity, free cash flows, and a new $1.5 billion term loan [19] - The company anticipates generating over $10 billion in operating cash flow through 2028 at current spot prices, with a return to a net cash position expected within a year [19][98] - The transaction represents only 6.5% of Wheaton's total market capitalization, indicating strong strategic fit and accretion potential [19] Community and Sustainability Commitment - Wheaton emphasizes its commitment to supporting local communities and sustainability practices, particularly in Peru [10] Market Outlook - The silver market is expected to remain in a supply deficit for the next five years, with increasing investment demand [58] - Wheaton's management expresses confidence in the long-term fundamentals of silver, despite recent price fluctuations [58] Risk Management - The acquisition reduces concentration risk, as Antamina will represent under 18% of Wheaton's total assets, while Salobo will be under 25% in the coming years [39][40] - The company maintains a strong credit position with 70% of its exposure to investment-grade mining partners, significantly decreasing credit risk [11] Future Opportunities - Wheaton is exploring additional opportunities for growth, particularly in the copper space, which is expected to require significant capital investment [82] Additional Insights - The transaction with BHP is seen as a validation of the streaming model, highlighting its attractiveness as a source of capital for major mining companies [84] - The company is actively engaging with other large miners for potential future streaming agreements [82]

Cautionary Statements Cautionary Note Regarding Forward-Looking Statements The information contained in this presentation contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of Canadian securities legislation, in particular, but not limited to, the future price of commodities and the estimation of future production. There can be no assurance that forward-looking statements will pro ...

For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Nexa Resources S.A. (NEXA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Basic Materials sector should help us answer this question.Nexa Resources S.A. is one of 254 companies in the Bas ...

BHP has signed a long-term streaming agreement with Wheaton Precious Metals, which includes a $4.3bn (£3.17bn) upfront payment for silver from BHP's production share at the Antamina mine in Peru. The transaction allows BHP to monetise its silver assets from Antamina while preserving its interests in copper, zinc and lead production. BHP holds a 33.75% stake in Compañía Minera Antamina, which operates the mine independently, and this new agreement does not alter BHP’s shareholder rights or existing custo ...

Diversified miner BHP Group Ltd. (NYSE:BHP) has signed a $4.3-billion silver streaming agreement with Wheaton Precious Metals Corp. (NYSE:WPM) covering its share of output from the Antamina mine in Peru.Based on the upfront consideration, this is the most valuable precious-metals streaming transaction to date.Monetizing ByproductA streaming agreement is a long-term contract in which a mining company receives an upfront payment in exchange for the streamer’s right to buy a portion of future production at a f ...

BHP Group’s earnings for the six months to the end of December rose by more than a fifth thanks to a surge in copper prices, even as plateauing demand in China weighed on its iron ore and steelmaking coal businesses.The world’s largest miner said underlying attributable profit climbed to $6.2 billion, up 22% and broadly in line with analyst forecasts, according to a statement on Tuesday.The copper division, a focus of BHP’s growth plans and good for more than half of its bottom line for the first time, saw ...

Company Developments - BHP Group has entered into a long-term silver streaming agreement with Wheaton Precious Metals, securing an upfront cash payment of $4.3 billion upon completion [2][9] - The agreement focuses on silver output from BHP's share of the Antamina mine, with Wheaton paying 20% of the spot price per ounce of silver at the time of delivery, allowing BHP to crystallize the value of its silver by-product [3][9] - BHP reported mixed H1 2026 results, with an underlying profit of $6.20 billion, slightly below the expected $6.22 billion, and net income of $5.64 billion, significantly below the consensus estimate of $6.25 billion [4][9] - Despite the bottom-line misses, BHP showed operational strength with an underlying EBITDA of $15.46 billion, surpassing the forecast of $15.09 billion, and declared an interim dividend of $0.73 per share, exceeding the $0.65 estimate [5][9] Industry Insights - Canada has appointed a new chief trade negotiator to the United States, indicating a strategic shift in managing bilateral trade relations amid evolving industrial policies [6][9] - U.S. steel capacity utilization stood at 77.8% for the week ending February 14, according to the American Iron and Steel Institute, serving as a key indicator of domestic manufacturing health and construction demand [7][9] - Global financial markets experienced limited movement due to holiday-thinned trading and soft U.S. inflation data, which has influenced expectations for upcoming interest rate cuts by the Federal Reserve [8][9]

Wheaton Precious Metals Announces Acquisition of Additional Silver Stream on Antamina Through New Partnership with BHP [Accessibility Statement] Skip NavigationVANCOUVER, BC, Feb. 16, 2026 /PRNewswire/ - Wheaton Precious Metalsâ"¢ Corp. ("Wheaton" or the "Company") is pleased to announce that its wholly-owned subsidiary, Wheaton Precious Metals International Ltd. ("WPMI") has entered into a definitive Precious Metals Purchase Agreement (the "Silver Stream") with a wholly-owned subsidiary of BHP Group Limite ...

Investors interested in stocks from the Mining - Miscellaneous sector have probably already heard of Glencore PLC (GLNCY) and Wheaton Precious Metals Corp. (WPM) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estimat ...