WPM Wheaton Precious Metals Corp

By Jaime Llinares Taboada

Wheaton Precious Metals Corp. said Friday that it has entered into a deal to purchase gold and silver from Caldas Gold Corp.'s Marmato mine in Colombia.

Wheaton--which is listed in Toronto, New York and London--has secured 6.5% of the mine's gold production until 190,000 ounces are produced, and 3.25% thereafter; and 100% of Marmato's silver output until 2.15 million ounces are produced, and 50% thereafter, the company said.

The company said it has agreed to pay $110 million in cash, plus payments equal to 18% of the spot gold and silver price--which will be later increased to a 22% rate.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

November 06, 2020 04:03 ET (09:03 GMT)

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