Wheaton Precious Metals Aims for 50% Production Growth by 2030 Without Additional Capital
At its 2026 Investor Day, Wheaton Precious Metals outlined a strategy to grow attributable production from approximately 804,000 gold-equivalent ounces in the prior year to around 1.2 million ounces by 2030—representing roughly 50% growth—with no new capital commitments required. The company emphasized its focus on high-quality, low-cost, long-life precious metals assets and highlighted recent acquisitions such as the Antamina silver stream, which is expected to add about 12 million ounces of annual silver production for five years. Wheaton has deployed over $5.5 billion in transactions recently but maintains a manageable leverage ratio of around 0.6 times net debt to EBITDA and holds strong liquidity with approximately $2.6 billion available. The company also expects more than $2.5 billion in operating cash flow over the next year, supporting its growth strategy without relying on exploration success or major permitting milestones. The production forecast is driven by existing operations expanding output, assets under construction ramping up, and financed development-stage projects. Portfolio diversification will increase as Salobo’s contribution to total production declines from 37% today to around 26% in 2030.
Tickers: $WPM
Topics: capital efficiency production growth streaming agreements