Wheaton Precious Metals Exceeds 2025 Production Guidance and Provides 2026 and Long-Term Outlook, Projecting Approximately 50% Growth to 1.2 Million Gold Equivalent Ounces by 2030
Wheaton Doubles Down on Cornerstone Antamina as Production Targets Soar Toward 1.2 Million GEOs
On February 16, 2026, Wheaton Precious Metals (WPM) released two transformative announcements. First, the company exceeded its 2025 production guidance, delivering 691,670 gold equivalent ounces (GEOs) against a target of 600,000–670,000. Second, WPM announced a $4.3 billion acquisition of an additional 33.75% silver stream on the Antamina mine from BHP, doubling its total silver stream on the asset to 67.5%.
The company provided aggressive new production guidance, forecasting a pro-forma 11% increase in 2026 production (860,000–940,000 GEOs) and a long-term target of 1.2 million GEOs by 2030. To fund the upfront payment for Antamina, WPM has entered into a $1.5 billion senior unsecured term loan facility. Management also confirmed a leadership transition, with Haytham Hodaly assuming the CEO role effective March 31, 2026.
This news is a game-changer for WPM's scale and valuation profile.
Wheaton Precious Metals is the world’s leading precious metals streaming company. It provides upfront capital to miners in exchange for the right to purchase a portion of metal production at a fixed, low cost. - Flagship Project: Salobo (Gold). Salobo remains the primary gold contributor, recently reaching full capacity after the Salobo III expansion. - New Strategic Pillar: Antamina (Silver). With the new deal, Antamina becomes the dominant silver asset, expected to contribute 18% of total GEOs by 2030.