Silver Wheaton Corp. reports the agreement of 25% purchase of life of mine silver produced by Alexco Resource at its Keno Hill project, Yukon Territory, Canada.

Keno Hill is historically one of the highest-grade and most prolific silver producing districts in the world. Silver Wheaton will pay Alexco US$50 million to acquire 25% of all payable silver produced from the Keno Hill project, for the lesser of US$3.90 (subject to a one percent annual adjustment starting in year four after the achievement of specific operating targets) or the prevailing market price per ounce of silver delivered.

Peter Barnes, President and CEO of Silver Wheaton says:

“By partnering with Alexco, Silver Wheaton is strategically positioned within one of the richest silver belts in the world”. “The Keno Hill district boasts a 75 year production history with unparalleled silver grades and we are excited to participate in the resumption of silver production in the area. With more than 30 historic mines in the region, and numerous high quality exploration targets, we expect a long and prosperous partnership with Alexco.”

For full details of this press release, click this link. Silver Investing News researchers discovered Silver Wheaton’s life of mine silver production agreement described on their website. Follow developments in silver mining and exploration for free. Sign on to the Silver Investing Newsletter.

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