Silver Wheaton lifts FY gold outlook 15% following record Q2 output

The world’s largest precious metals streaming firm Silver Wheaton said Wednesday it expected to produce 15% more gold this year than previously expected, as production is being boosted by strong performance from its key asset, Vale’s Salobo mine, on which it had just picked up a further gold stream. For 2016, Silver Wheaton’s estimated attributable gold production will be 305 000 oz, up from the 265 000 oz previously forecast. The estimated average yearly attributable gold output over the next five years (including 2016), is likely to be about 330 000 oz/y of gold, up from 260 000 oz, the Vancouver-based company advised.