Posted on 18/03/08
Silver Wheaton to buy Mercator's silver output
Silver Wheaton Corp., a Vancouver-based silver producer, has agreed to buy all the silver produced by Mercator Minerals Ltd. at its copper-molybdenum-silver Mineral Park Mine in Arizona. When the deal closes, Silver Wheaton will pay Mercator $42-million (U.S.) in cash to acquire the silver produced over the life of the Mineral Park Mine. Michael Surratt, president and CEO of Mercator, said the transaction will help his company focus on its primary metals - copper and molybdenum, an industrial metal used to make stainless steel. SLW (TSX) fell 96 cents to $18.22, ML (TSX) fell 43 cents to $10.32.
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