By Jaime Llinares Taboada
Wheaton Precious Metals Corp. said Friday that it has entered into a deal to purchase gold and silver from Caldas Gold Corp.'s Marmato mine in Colombia.
Wheaton--which is listed in Toronto, New York and London--has secured 6.5% of the mine's gold production until 190,000 ounces are produced, and 3.25% thereafter; and 100% of Marmato's silver output until 2.15 million ounces are produced, and 50% thereafter, the company said.
The company said it has agreed to pay $110 million in cash, plus payments equal to 18% of the spot gold and silver price--which will be later increased to a 22% rate.
Write to Jaime Llinares Taboada at email@example.com; @JaimeLlinaresT
(END) Dow Jones Newswires