Randy Smallwood of Wheaton Precious Metals said that around 45% of the assets the company currently streams are development assets with funding provided while mines are built.
“We had a phase, for a three-to-four-year period, where there was a lot of balance sheet repair, when even some of the world’s largest companies needed a little bit of capital just to get their leverage down on their balance sheets,” he said.
“Now we’re entering into a phase where a lot of money is going into development; from a corporate perspective, our opportunity set shows it’s either funding expansions, new mine development or M&A,” he told the 25th Mining Indaba in Cape Town, South Africa running from February 4 to 7.
To date, $19 billion has accumulatively been invested into streaming in the global mining industry. Wheaton is responsible for close to $10 billion of that through 20 operating mines and nine...