HudBay Minerals Gets $125 Million Deposit Payment from Silver Wheaton

HudBay Minerals Inc. (TSX:HBM,NYSE:HBM)  announced that it has received a deposit payment of $125 million from Silver Wheaton Corp (TSX:SLW, NYSE:SLW) as part of a$750 million precious metals stream transaction.

As quoted in the press release:

Hudbay received the initial US$500 million deposit payment in September 2012 and will receive the final US$125 million deposit payment once it has incurred and paid US$1 billion in capital expenditures at its Constancia project in Peru.

To view the whole press release, click here.