Wheaton Precious Metals enters into US$300M gold and silver stream with KGL Resources on the Jervois Project
On April 1, 2026, Wheaton Precious Metals International Ltd. (“WPMI”), a wholly owned subsidiary of Wheaton Precious Metals Corp. entered into a definitive precious metals purchase agreement (the “PMPA”) with a wholly owned subsidiary of KGL Resources Limited (“KGL”) to acquire a gold and silver stream on the Jervois Copper Project in the Northern Territory, Australia (the “Jervois Project”).
Under the PMPA, as consideration for a portion of the gold and silver produced at the Jervois Project, WPMI will pay KGL: (i) a total upfront amount of US$275 million, payable in installments over the construction period (subject to customary conditions); and (ii) a cost overrun stream of up to US$25 million, accessible by KGL before the fifth anniversary of the effective date of the PMPA (subject to further conditions).
KGL is an ASX‑listed Australian mineral exploration and development company focused on the development and construction of the Jervois Project.
The Jervois Project is a fully permitted copper project, with construction expected to commence imminently and first production anticipated in the second half of 2027.
McCarthy Tétrault LLP advised WPMI with a team led by Roger Taplin and Jenna Clark that included Christopher Langdon, Christopher Zawadzki, Rob Legge, Matthew Yensen and Emma Good (Business), and Patrick Williams (Litigation).
