Legend
22 Operating Mines 8 Development Projects

Precious Metals Streaming

Precious metals streaming allows Silver Wheaton to purchase, in exchange for an upfront payment, the by-product silver or gold production of a mine that it does not own or operate. The operating costs that Silver Wheaton pays for future production are pre-determined in the agreements, typically between US$4 to US$6 per ounce of silver and US$400 per ounce of gold produced, with a small inflationary adjustment in most contracts. This amount offsets our partners’ typical cost to produce an ounce of silver or gold.

Fixed costs reduce our shareholders’ downside risk while at the same time providing the upside to increases in the precious metals price. As well, other than the initial upfront cash payment, Silver Wheaton typically does not contribute to future capital expenditures or exploration costs invested by the mine; yet it benefits from the production and exploration growth that results from these expenditures. This business model often translates into significant value creation for Silver Wheaton shareholders.

Silver and Gold Interests

The following table summarizes the silver and gold interests currently owned by the Company:

Silver and Gold Interests Owner Location of Mine Attributable Silver to be Purchased Attributable Gold to be Purchased Term of Agreement Date of Contract
San Dimas Primero Mining Corp. 1 Mexico 100% 1 - Life of Mine 2004-10-15
             
Zinkgruvan Lundin Mining Corporation Sweden 100% - Life of Mine 2004-12-08
             
Yauliyacu Glencore International AG Peru 100% 2 - 20 years 2006-03-23
             
Peñasquito Goldcorp Inc. Mexico 25% - Life of Mine 2007-07-24
             
Minto Capstone Mining Corp. Canada 100% 100% 3 Life of Mine 2008-12-01
             
Cozamin Capstone Mining Corp. Mexico 100% - 10 years 2007-04-04
             
777 Hudbay Minerals Inc. Canada 100% 100% / 50% 4 Life of Mine 2012-08-07
       
Salobo Vale Brazil - 75% Life of Mine 2016-08-02
       
Sudbury Vale Canada 70% 20 years 2013-02-28
             
AntaminaGlencorePeru33.75% 8-Life of Mine2015-11-03
       
Barrick            
Pascua-Lama Barrick Gold Corporation Chile/Argentina 25% - Life of Mine 2009-09-08
Lagunas Norte Barrick Gold Corporation Peru 100% - 8.5 years 2009-09-08
Pierina Barrick Gold Corporation Peru 100% - 8.5 years 2009-09-08
Veladero Barrick Gold Corporation Argentina 100% 6 - 8.5 years 2009-09-08
             
Other            
Los Filos Goldcorp Inc. Mexico 100% - 25 years 2004-10-15
Stratoni Eldorado Gold Corp.7 Greece 100% - Life of Mine 2007-04-23
Neves-Corvo Lundin Mining Corporation Portugal 100% - 50 years 2007-06-05
Aljustrel I'M SGPS Portugal 100% - 50 years 2007-06-05
Keno Hill Alexco Resource Corp. Canada 25% - Life of Mine 2008-10-02
Rosemont Augusta Resource Corp. United States 100% 100% Life of Mine 2010-02-11
Loma de La Plata Pan American Silver Corp. Argentina 12.5% - Life of Mine n/a 5
Constancia Hudbay Minerals Inc. Peru 100% 50% Life of Mine 2012-08-07
Toroparu Sandspring Resources Ltd. Guyana 50% 10% Life of Mine  n/a 5
CotabambasPanoro Minerals Ltd.Peru100% 925% 9Life of Minen/a 5
  1. Primero will deliver a per annum amount to Silver Wheaton equal to the first 6 million ounces of payable silver produced at San Dimas and 50% of any excess.
  2. To a maximum of 4.75 million ounces per annum. In the event that silver sold and delivered to Silver Wheaton in any year totals less than 4.75 million ounces, the amount sold and delivered to Silver Wheaton in subsequent years will be increased to make up for any cumulative shortfall, to the extent production permits.
  3. The Company is entitled to acquire 100% of the first 30,000 ounces of gold produced per annum and 50% thereafter.
  4. Silver Wheaton is entitled to acquire 100% of the life of mine gold production from Hudbay’s 777 mine until Hudbay’s Constancia project satisfies a completion test, or the end of 2016, whichever is later. At that, point Silver Wheaton’s share of gold production from 777 will be reduced to 50% for the life of the mine.
  5. Definitive terms of the agreement have not been finalized.
  6. Silver Wheaton's attributable silver production is subject to a maximum of 8% of the silver contained in the ore mined at Veladero during the period.
  7. 95% owned by Eldorado Gold Corporation.
  8. Antamina is 33.75% owned by Glencore. Silver Wheaton receives 100% of Glencore's interest at a 100% payable rate.
  9. SWC will be entitled to purchase 100% of the silver production and 25% of the gold production from the Cotabambas project until 90 million silver equivalent ounces attributable to SWC have been delivered, at which point the stream would drop to 66.67% of silver production and 16.67% of gold production for the life of mine.
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