VANCOUVER, May 22, 2014 /PRNewswire/ - Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW) (NYSE:SLW) is pleased to announce that it has joined the World Gold Council. Through its recent acquisitions of gold streams from Vale S.A. and Hudbay Minerals Inc., Silver Wheaton has seen a substantial increase in both its current and forecast future gold production from its diverse portfolio of global mining assets.
"During 2013, Silver Wheaton significantly increased the amount of gold production within our portfolio. We are proud to be joining the World Gold Council, and look forward to contributing to its vision of providing industry leadership, while stimulating and sustaining the worldwide demand for gold," said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton.
World Gold Council Chief Executive, Aram Shishmanian, stated; "We are delighted that Silver Wheaton has become a member of our organisation. The streaming model used by Silver Wheaton is becoming increasingly important in the gold mining industry to attract investment and fund gold and precious metal projects. With the addition of Silver Wheaton to our Board, the World Gold Council now represents a substantial proportion of this important element of the gold business."About Silver Wheaton Silver Wheaton is the largest precious metals streaming company in the world. Based upon its current agreements, forecast 2014 annual attributable production is approximately 36 million silver equivalent ounces 1, including 155,000 ounces of gold. By 2018, annual attributable production is anticipated to increase significantly to approximately 48 million silver equivalent ounces 1, including 250,000 ounces of gold. This growth is driven by the Company's portfolio of low-cost and long-life assets, including precious metal and gold streams on Hudbay's Constancia project and Vale's Salobo and Sudbury mines. ______________________________ 1 Silver equivalent production forecast assumes a gold/silver ratio of 60:1.
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