Franco-Nevada, Teck Resources sign silver streaming deal

Wed Oct 7, 2015 6:18am EDT
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Oct 7 (Reuters) - Franco-Nevada Corp reached a silver streaming agreement with miner Teck Resources Ltd for $610 million.

Franco-Nevada expects to receive 900,000 to 1.1 million ounces of silver in the fourth quarter from the Antamina mine in Peru as part of the agreement.

"Streaming" transactions are a type of mine financing where a streaming company provides funds upfront to a miner in exchange for delivery of a certain amount of future production at a set price. (Reporting by Anannya Pramanick in Bengaluru; Editing by Shounak Dasgupta)