OREANDA-NEWS. An unparalleled business deal in our history has been signed by Vale and Canadian company Silver Wheaton (SLW), by which part of the gold produced as a by-product at some of our copper and nickel mines will be sold to SLW.

The agreement gives SLW the right to acquire 25% of all the gold to be produced at our copper units in Salobo, Para, throughout the mines’ lifespan, calculated to be 50 years. In the case of our seven nickel mines in Sudbury, Canada, SLW will purchase 70% of the gold extracted over a 20-year period.

Vale will receive an initial cash payment worth USD 1.9 billion plus USD 10 million in warrants (a security that gives the holder the right to purchase assets at a given price).