Core Viewpoint - BHP Group Ltd. has entered into a $4.3-billion silver streaming agreement with Wheaton Precious Metals, marking the most valuable precious-metals streaming transaction to date [1] Group 1: Transaction Details - The streaming agreement involves an upfront payment of $4.3 billion from Wheaton to BHP, along with ongoing payments equal to 20% of the spot silver price for each ounce delivered [3] - The agreement covers 33.75% of Antamina's silver output attributable to BHP, which will decline to 22.5% after 100 million ounces have been delivered [3] - The transaction is set to take effect on April 1, 2026, pending regulatory approvals [5] Group 2: Strategic Implications - This agreement allows BHP to monetize silver as a byproduct from the Antamina mine while maintaining full exposure to its primary copper, zinc, and lead production [4] - The demand for silver has increased due to its applications in solar panels, electronics, and electrification technologies, amidst a backdrop of production deficits in the market [5] Group 3: Market Reaction - BHP Group shares experienced a slight decline of 0.35% to $73.12 during premarket trading, nearing its 52-week high of $75.14 [6] - Wheaton Precious Metals shares fell by 2.71% to $141.94 [6]