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Wheaton acquires precious metals stream from Adventus Mining

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Global Mining Review,

Wheaton Precious Metals™ Corp. has announced that its wholly-owned subsidiary, Wheaton Precious Metals International Ltd., has entered into a definitive precious metal purchase agreement (PMPA) with Alliance Metals International, a subsidiary of Adventus Mining Corp., in respect to the Curipamba Project located in Ecuador.

Curipamba is forecast to be a high-margin mine in the lowest half of the copper cost curve with a 10-year open-pit mine life and the potential to transition into an underground mine subsequent to the open pit.

Randy Smallwood, Wheaton’s President and Chief Executive Officer, comments:

“Wheaton has had a successful long-term partnership with Adventus and welcomes the opportunity to support the development of a project the calibre of Curipamba. Forecasted to be a high quality, low-cost mine with significant exploration potential, Curipamba’s profile aligns well with Wheaton’s accretive growth strategy.

“Adventus has a strong entrepreneurial reputation and shares Wheaton’s vision that responsible mining should benefit all stakeholders, including support for the communities around the mines. We look forward to our continued partnership with Adventus and shared success in Curipamba.”

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Precious metals mining news South American mining news