Wheaton Precious Metals (NYSE:WPM) is a precious metals streaming company that provides upfront financing to mining companies in exchange for the right to purchase a portion of gold, silver or other metals production at predetermined, discounted rates. This model allows mining operators to fund development and expansion projects without taking on additional debt or diluting equity, while Wheaton Precious Metals secures long-term exposure to precious metals prices. The company’s portfolio of streams and royalties spans both producing and development-stage mines, offering diversified exposure to gold and silver production over multiple decades.
Originally founded in 2004 as Silver Wheaton Corp., the company completed its first silver stream in 2005 and rapidly expanded its footprint through a series of streaming agreements. In 2017, reflecting its growing gold exposure, the company rebranded to Wheaton Precious Metals Corp. Since then, it has continued to build its portfolio through transactions across established and emerging mining jurisdictions. The firm’s development-stage streams provide potential for production growth, while its operating streams generate near-term cash flow tied to precious metals output.
Wheaton Precious Metals serves a global mining industry, with streams and royalties in North America, Latin America, Europe and Australia. Key assets include streams at multi-commodity operations in Mexico, Peru, Portugal and Canada, as well as agreements in Chile and Argentina. This geographic diversification helps mitigate country-specific risks and capitalizes on reserves in jurisdictions with established mining infrastructure and regulatory frameworks.
Headquartered in Vancouver, British Columbia, Wheaton Precious Metals is led by President and Chief Executive Officer Randy Smallwood, who joined the company at its inception and has overseen its evolution into one of the world’s largest precious metals streamers. The executive team brings extensive experience in mining finance, operations and investor relations, supported by a board of directors with backgrounds in resource development and capital markets. Through its streaming model, Wheaton Precious Metals continues to provide an alternative financing solution for mining companies while offering investors direct exposure to precious metal prices.
