Australia's leading independent law firm, Corrs Chambers Westgarth, is advising Wheaton Precious Metals International Ltd., a wholly owned subsidiary of Wheaton Precious Metals Corp. (Wheaton), on a precious metals streaming transaction worth US$300 million to partially fund the construction and development of the Jervois Copper Project in Australia's Northern Territory.
Wheaton, widely considered the world's largest precious metals streaming company and listed on the NYSE, TSX and LSE, has entered into a definitive Precious Metals Purchase Agreement with a wholly owned subsidiary of ASX-listed KGL Resources Limited. Under the agreement, Wheaton will purchase a portion of the gold and silver produced at the Jervois Copper Project.
The transaction was led by partners Rommel Harding-Farrenberg and Christian Owen, with support from partners James Morley and Peter Jarosek, and a team of experts from the firm's banking and finance, corporate, energy and natural resources and regulatory practices.
Commenting on the matter, Rommel Harding-Farrenberg said: "We are thrilled to advise Wheaton on this significant transaction, one of the most significant streaming investments in Australia, in this alternative form of financing which is gaining traction in the Australian mining sector."
Christian Owen added: "This transaction reinforces Corrs' reputation as a leading adviser in the resources and mining sector. Advising on this landmark deal demonstrates the firm's strength in complex financing structures at the intersection of banking and finance, energy and natural resources and corporate law."
Corrs also advised Wheaton on the Australian aspects of its silver stream over BHP's 33.75% portion of the silver produced at the Antamina Mine in Peru, which was led by partners Anthony Lepere and Christian Owen.