Silver Wheaton Supports Mining Partners' Community Projects in Mexico and Argentina
Aug 07, 2014 17:52:00 (ET)
VANCOUVER, British Columbia, August 7, 2014 /PRNewswire/ --
TSX:SLW
NYSE:SLW
Silver Wheaton is pleased to announce that it has initiated a corporate social responsibility program to provide financial support for its partners' social projects in mining communities where Silver Wheaton purchases its precious metals. Silver Wheaton has recently committed to supporting programs led by two of its partners, Primero Mining Corp. ("Primero") and Barrick Gold Corporation ("Barrick").
"Silver Wheaton has always been committed to building strong partnerships, and as our company has grown, we have become increasingly focussed on supporting the communities around the mines where we have streaming agreements," said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton. "We're extremely pleased to be providing support to Primero and Barrick for their community projects in Mexico and Argentina, respectively. These financial contributions will positively impact the communities where their mining operations are located, providing long-term, sustainable benefits. We look forward to seeing the benefits of these projects, and are committed to creating new agreements with existing and future mining partners."
Silver Wheaton is helping its partners to finance two key initiatives. Primero has committed to building three community facilities in Tayoltita, Mexico, a town located near the San Dimas mine. The project, which is expected to provide well-needed recreational opportunities for the community of Tayoltita, is forecast to be completed in 2015. Furthermore, Barrick has committed to executing an irrigation project in the communities of Jachal and Iglesia of San Juan Province, Argentina, located near the Veladero mine and Pascua-Lama project. Barrick's aim is to enhance water conservation and agricultural outputs by conserving and optimizing water resources through the implementation of drip and sprinkling irrigation technology. This project is also expected to be completed in 2015.
About Silver Wheaton
Silver Wheaton is the largest precious metals streaming company in the world. Based upon its current agreements, forecast 2014 annual attributable production is approximately 36 million silver equivalent ounces([) (1) (]) , including 155,000 ounces of gold. By 2018, annual attributable production is anticipated to increase significantly to approximately 48 million silver equivalent ounces([) (1) (]) , including 250,000 ounces of gold. This growth is driven by the Company's portfolio of low-cost and long-life assets, including precious metal and gold streams on Hudbay's Constancia project and Vale's Salobo and Sudbury mines.
______________________________
[1] Silver equivalent production forecast assumes a gold/silver ratio of 60:1.
CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS |
