Wheaton will pay Capstone a total upfront cash consideration of $290 million.
“Santo Domingo is an exceptional project that provides Wheaton with an additional near-term growth opportunity. The project is forecast to be a first-quartile copper producer with a long mine life, making it an ideal fit for Wheaton’s existing high-quality portfolio,” Randy Smallwood, Wheaton’s CEO said in a press release.
Attributable gold production is forecast to average 35 to 40 koz per year for the first five full years of production and 25 to 30 koz for the first ten full years.
Capstone expects major construction to commence in late 2021 with the first full year of production forecast for 2024.