BHP Signs $4.3 Billion Silver Streaming Deal

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BHP Signs $4.3 Billion Silver Streaming Deal

Moz Farooque ACCA

Wed, February 18, 2026 at 8:21 AM GMT+9 1 min read

In this article:

BHP

+1.24%

BHPLF

+5.07%

SI=F

-0.45%

HG=F

+0.64%

WPM

-2.45%

This article first appeared on GuruFocus.

BHP (NYSE:BHP) is doing two things at once: locking in billions in fresh cash and signaling that copper, not iron ore, is now driving the story. Shares rose 6% to a record high in Australia after the miner unveiled a $4.3 billion silver streaming deal with Wheaton Precious Metals (NYSE:WPM) and reported stronger-than-expected first-half results.

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Under the agreement, Wheaton will pay $4.3 billion upfront and ongoing payments equal to 20% of the silver spot price for production tied to BHP’s 33.75% stake in Peru’s Antamina mine. Once completed, Wheaton will receive 67.5% of Antamina’s silver output. The deal feeds into BHP’s broader goal of raising $10 billion from existing assets.

On earnings, H1 underlying profit climbed 22% Y/Y to $6.2 billion, topping the $6.03 billion consensus. The interim dividend was lifted to $0.73, ahead of the expected $0.63. Copper generated $7.95 billion in operating earnings, surpassing iron ore’s $7.5 billion for the first time.

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