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Wheaton Precious Metals Acquires Cobalt Stream from Vale's Voisey's Bay Mine
Wheaton Precious Metals Acquires Cobalt Stream from Vale's Voisey's Bay Mine Canad...
About this update from Wheaton Precious Metals Corp
[{"type":"text","content":"\n\n\n\nWheaton Precious Metals Acquires Cobalt Stream from Vale's Voisey's Bay Mine\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen6{\nBORDER-BOTTOM:black 0pt; TEXT-ALIGN: CENTER; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prngen5{\nBORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prngen1{\nBORDER-BOTTOM:0pt; BORDER-LEFT:0pt; BORDER-COLLAPSE: COLLAPSE; BORDER-TOP:0pt; BORDER-RIGHT:0pt\n}\n.prngen2{\nBORDER-BOTTOM:black 0pt; TEXT-ALIGN: CENTER; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prngen3{\nBORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: CENTER; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n.prngen4{\nBORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; BORDER-LEFT:black 0pt; PADDING-LEFT:0.50em; PADDING-RIGHT:0.50em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, June 11, 2018\n\n\n\nTSX: WPMNYSE: WPM\n\n\n\nVANCOUVER, June 11, 2018 /CNW/ - Wheaton Precious Metals™ Corp. (\"Wheaton\" or the \"Company\") is pleased to announce that it has agreed to acquire from a subsidiary of Vale S.A. (\"Vale\") (NYSE:VALE) an amount of finished cobalt equal to a fixed percentage of cobalt production from the Voisey's Bay mine (the \"Cobalt Stream\"). Wheaton will pay Vale upfront cash consideration of US$390 million upon closing of the Cobalt Stream. In addition, Wheaton will make ongoing payments of 18% of the Metal Bulletin market price (\"cobalt spot price\") per cobalt pound delivered1. Also on June 11, 2018, Vale entered into a separate streaming agreement with Cobalt 27 Capital Corp. (\"Cobalt 27\"). In total, Wheaton and Cobalt 27 will provide Vale an aggregate of US$690 million in funding for the combine...