Glencore to sell future silver from Antamina mine to Silver Wheaton

Tue Nov 3, 2015 5:21pm EST
 
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Nov 3 (Reuters) - Glencore Plc has agreed to sell future silver output from its stake in the Antamina copper mine in Peru to Silver Wheaton Minerals for $900 million in cash in a so-called "streaming" deal, Silver Wheaton said on Tuesday.

Vancouver-based Silver Wheaton will also make ongoing payments of 20 percent of the spot price for silver for every ounce of metal delivered. (Reporting by Nicole Mordant in Vancouver; Editing by Cynthia Osterman)