Wheaton Precious Metals (WPM.TO) late on Wednesday said its subsidiary Wheaton Precious Metals International has completed a silver stream transaction under a precious metals purchase agreement with a BHP Group subsidiary on the Antamina mine in Peru.

From the effective date of April 1, WPMI will purchase the equivalent of BHP's 33.75% of the payable silver from the Antamina mine until a total of 100 million ounces has been delivered. At that point, WPMI will purchase the equivalent of 22.5% of the payable silver for the life of mine.

In exchange, WPMI made an upfront payment of US$4.3 billion and will make ongoing payments for the silver ounces delivered equal to 20% of the spot price of silver.

Separately, also late Wednesday, Wheaton said WPMI has entered into a precious metals purchase agreement with a subsidiary of KGL Resources for a portion of the gold and silver produced at the Jervois project in Australia.

WPMI will pay KGL total upfront cash consideration of US$275 million. Two installments of $16 million each will be made as early deposit payments, once certain conditions are satisfied, to be paid in the second and third calendar quarters of 2026.

The remaining balance of $243 million will be paid in four equal installments over the construction period as various conditions are satisfied.

WPMI will purchase 75% of the payable gold until a total of 45,000 ounces has been delivered. At this point, Wheaton will purchase 37.5% of the payable gold until an additional 15 Koz has been delivered. Afterwards, WPMI will purchase 25% of the payable gold for the life of mine.

WPMI will also purchase 75% of the payable silver until a total of about 4.3 million ounces has been delivered. At this point, Wheaton will purchase 37.5% of the payable silver until an additional 1.7 Moz has been delivered. Afterwards, WPMI will purchase 25% of the payable silver for the life of mine.

WPMI will make ongoing payments for the gold and silver ounces delivered equal to 20% of the spot price of gold and silver.

The company will fund most of the upfront payment from operating cash flows as construction advances throughout 2027.